Ternium S.A. (NYSE: TX) Investor Securities Class Action Lawsuit 11/29/2018

If you purchased a significant amount of shares of Ternium S.A. (NYSE: TX) between May 1, 2014 and November 27, 2018, and / or if you purchased any Ternium S.A. (NYSE: TX shares prior to May 2014 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: January 28, 2019. NYSE: TX 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): 
Ternium
Case Name: 
Ternium Shareholder Class Action Lawsuit 11/29/2018
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: TX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/29/2018
Class Period Begin: 
05/01/2014
Class Period End: 
11/27/2018
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
01/28/2019
Summary: 

An investor in shares of Ternium S.A. (NYSE: TX) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Ternium S.A. in connection with certain allegedly false and misleading statements made between May 1, 2014 and November 27, 2018.

Luxembourg based Ternium S.A., through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. Ternium S.A. reported that its annual Total Revenue rose from over $7.22 billion in 2016 to over $9.7 billion in 2017 and that its Net Income increased from $595.64 million in 2016 to $886.21 million in 2017.

On November 27, 2018, an article was published alleging that Ternium’s Chairman Paolo Rocca, was indicted for his role in a graft scheme. Specifically the article alleges that, “the judge charged Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012.”

Shares of Ternium S.A. (NYSE: TX) declined to as low as $26.43 per share on November 28, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Ternium S.A. (NYSE: TX) common shares between May 1, 2014 and November 27, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 1, 2014 and November 27, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Defendant Rocca, Ternium’s Chairman, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium’s Sidor unit, that this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny, and that as a result, Ternium’s public statements were materially false and/or misleading at all relevant times