Ferroglobe PLC (NASDAQ: GSM) Investor Securities Class Action Lawsuit 01/22/2019

If you purchased shares of Ferroglobe PLC (NASDAQ: GSM), you have certain options and for certain investors are short and strict deadlines running. Deadline: March 25, 2019. NASDAQ: GSM investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Ferroglobe
Case Name: 
Ferroglobe Shareholder Class Action Lawsuit 01/22/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: GSM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/22/2019
Class Period Begin: 
08/21/2018
Class Period End: 
11/26/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
03/25/2019
Summary: 

An investor in shares of Ferroglobe PLC (NASDAQ: GSM) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Ferroglobe PLC in connection with certain allegedly false and misleading statements made between August 21, 2018 and November 26, 2018.

London based Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. Ferroglobe PLC reported that its annual Total Revenue rose from over $1.57 billion in 2016 to over $1.74 billion in 2017 and that its Net Loss declined from $338.42 million in 2016 to $0.678 million in 2018.

On November 26, 2018, the Company reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of $66.0 million the prior quarter.

Shares of Ferroglobe PLC (NASDAQ: GSM) declined from $17.40 per share on February 26, 2018 to as low as $1.47 per share on December 17, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Ferroglobe PLC (NASDAQ: GSM) common shares between August 21, 2018 and November 26, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 21, 2018 and November 26, 2018, the defendants failed to disclose to investors that there was excess supply of the Company’s products, that demand for the Company’s products was declining, that, as a result, the pricing of the Company’s products would be materially impacted, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.