BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Ternium S.A. (“Ternium” or the “Company”) (NYSE: TX) securities between May 1, 2014 and November 27, 2018 inclusive (the ''Class Period''). Ternium investors have until January 28, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Ternium investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On November 27, 2018, Bloomberg published an article alleging that Ternium’s Chairman Paolo Rocca, was indicted for his role in a graft scheme. Specifically the article alleges that, “the judge charged Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012.” On this news, Ternium’s share price fell $1.42 per share or nearly 5% to close at $28.02 per share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Rocca, Ternium's Chairman, knew that one of his company's executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium's Sidor unit; (2) this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny; and (3) as a result, Ternium's public statements were materially false and/or misleading at all relevant times.
If you purchased shares of Ternium, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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