Abengoa SA (ADR) (NASDAQ:ABGB) Investor Securities Class Action Lawsuit 08/10/2015

If you purchased shares of Abengoa SA (ADR) (NASDAQ:ABGB), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Case Name: 
Abengoa Shareholder Class Action Lawsuit 08/10/2015
Case Status: 
Lawsuit Filed
Case Status: 
Case Dismissed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
Class Period Begin: 
Class Period End: 
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 

August 20, 2020 - The Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

February 28, 2020 - The defendants filed a Motion to Dismiss the second amended Complaint.

October 28, 2019 - A second amended complaint was filed.

August 2, 2016 - An amended complaint was filed.

August 14, 2015 (Shareholders Foundation) - An investor in shares of Abengoa SA (ADR) (NASDAQ:ABGB),filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Abengoa SA (ADR) (NASDAQ:ABGB in connection with certain allegedly false and misleading statements made between November 12, 2014 and August 2, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Abengoa SA (ADR) (NASDAQ:ABGB) common shares between November 12, 2014 and August 2, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 12, 2014 and August 2, 2015 Abengoa SA and certain of its past and present executive officers and directors have allegedly misrepresented the liquidity of Abengoa’s balance sheet in corporate reports filed with the SEC and during conference calls with financial analysts.

On August 3, 2015, Abengoa SA disclosed plans to sell assets worth 500 million euros and to call a shareholder vote relating to a capital increase with pre-emptive rights of 650 million euros. According to Abengoa SA the proceeds from the transactions will be used to reduce corporate debt. Shares of Abengoa SA (ADR) (NASDAQ:ABGB) declined from $16.01 per share on July 16, 2015, to as low as $7.67 per share on August 3, 2015.