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BENSALEM, Pa., — Law Offices of Howard G. Smith reminds investors of the March 25, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Ferroglobe PLC (“Ferroglobe” or the “Company”) (NASDAQ: GSM) securities between August 21, 2018 and November 26, 2018, inclusive (the “Class Period”). Ferroglobe investors have until March 25, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Ferroglobe investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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. On this news, the Company’s share price fell $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was excess supply of the Company’s products; (2) that demand for the Company’s products was declining; (3) that, as a result, the pricing of the Company’s products would be materially impacted; and (4) 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.
If you purchased shares of Ferroglobe during the Class Period you may move the Court no later than March 25, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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