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NEW YORK, Aug. 10, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Abengoa, S.A. ("Abengoa") (NASDAQ:ABGB) between November 12, 2014 and August 2, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Abengoa ADSs between November 12, 2014 and August 2, 2015, your rights may be affected by this action. To get more information go to:
The Complaint alleges that Abengoa and certain of its former and current executive officers and directors have misrepresented the liquidity of the Company's balance sheet.
On July 31, 2015, the Company announced it would lower its free cash flow guidance and a plan to divest itself of 400 million euros in assets. Despite this statement, Defendant Santiago Seage maintained that "the company has no plan to…tap the capital markets in any manner." Then on August 3, 2015, contrary to this statement, Abengoa announced a share issuance plan to raise 650 million euros, along with an asset divestiture totaling 500 million euros. Upon this news, Abengoa ADSs plunged over $5 per share, or 46% to a close of just $6.00 on August 4, 2015.
If you suffered a loss in Abengoa you have until October 9, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comNEXT ARTICLE