UPCOMING DEADLINE ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Horseh...
30 5월 2016 - 12:04AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the District
of Delaware on behalf of purchasers of Horsehead Holding Corp.
(Nasdaq: ZINC) (“Horsehead” or the “Company”) securities during the
period between May 21, 2014 and February 2, 2016, inclusive (the
“Class Period”). Investors with losses in excess of $100,000 who
wish to become proactively involved in the litigation have until
June 21, 2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in the Company’s securities during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that challenging
construction defects and operational problems resulting from
fundamental engineering and operational defects at a facility
located in Mooresboro, North Carolina (the “Mooresboro Facility”)
had left the facility unable to operate as planned such that
production disruptions prevented production capacity to reach 50%,
and tens of millions of dollars in costs related to these problems
were anticipated, and that the Company did not have sufficient
liquidity to sustain it through the full ramp-up of the Mooresboro
Facility.
According to the complaint, following a December 10, 2015
ratings downgrade of the Company's corporate debt by Moody’s, the
January 2016 failure by the Company to make an interest payment to
certain holders of the Company’s convertible senior notes and
default on multiple credit agreements, the January 22, 2016
Horsehead announcement that it was idling the Mooresboro Facility
and laying off most employees at the site, and the February 2, 2016
announcement that the Company had filed for bankruptcy, the value
of Horsehead shares declined significantly.
If you have suffered a loss from investment in Horsehead
securities purchased on or after May 21, 2014, and held through the
revelation of negative information during and/or at the end of the
Class Period and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160529005021/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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