NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Braskem S.A. (NYSE: BAK) resulting from allegations that Braskem may have issued materially misleading business information to the investing public.
On July 9, 2020, Braskem disclosed that authorities in northeastern Brazil had advised Braskem that residents of 1,918 homes needed to be evacuated due to a geological event that Braskem had caused via its mining operations. Braskem estimated that the cost of moving the residents would be 850 million reais, with another 750 million reais for additional measures relating to the permanent closure of Braskem’s salt extraction activities in the region. On this news, Braskem’s American Depositary Receipt price fell $0.59 per share, or 6.2%, to close at $8.93 per share on July 9, 2020, damaging investors.
Rosen Law Firm is preparing a securities lawsuit on behalf of Braskem shareholders. If you purchased securities of Braskem please visit the firm’s website at http://www.rosenlegal.com/cases-register-1921.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
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