Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Braskem S.A. ("Braskem" or the "Company") (NYSE: BAK) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On July 9, 2020, Braskem disclosed that the Company was advised by Brazilian authorities that the residents of 1,918 homes were forced to be evacuated after the Company’s mining operations caused a geological event. Braskem estimates the cost of relocating the residents would be 850 million reais, with another 750 million reais for additional measures relating to the permanent closure of its salt mining activities. On this news, Braskem’s ADRs fell by more than 6%.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.