NEW YORK, NY / ACCESSWIRE / January 16, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Ternium S.A. (''Ternium or the ''Company'') (TX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Ternium and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 27, 2018, Bloomberg reported that Ternium's Chairman Paolo Rocca was indicted for his role in a graft scheme. Specifically, it was reported that ''[t]he 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.'' It was further reported that ''[t]he officials were allegedly working for then-President Cristina Fernandez de Kirchner's administration to speed up a compensation payment from Venezuela for the nationalization of Sidor, a unit that had been seized by Venezuela [and which]. . . Rocca's group was [paid] $1.95 billion for[.]'' Consequently, the judge ordered a bond of $103 million and banned Rocca from leaving the country.
On this news, Ternium's securities fell $1.42 per share or nearly 5% to close at $28.02 per share on November 27, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP