A lawsuit was filed on behalf of investors in Agria Corporation (ADR) (NYSE:GRO) shares over alleged securities laws violations. Deadline: January 9, 2017. NYSE:GRO investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/14/2016 -- An investor, who purchased shares of Agria Corporation (ADR), filed a lawsuit in New Jersey over alleged violations of Federal Securities Laws by Agria in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Agria Corporation (ADR) (NYSE:GRO) have certain options and for certain investors are short and strict deadlines running. Deadline: January 9, 2017. NYSE:GRO investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that between December 16, 2011 through November 4, 2016 the Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Defendants engaged in trading to artificially inflate Agria's stock price in order to meet NYSE's continuing listing standards and avoid delisting from the NYSE, that Agria lacked effective internal controls over financial reporting, and that as a result of the foregoing, Defendants' public statements about Agira's business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Agria Corporation reported that its Total Revenue declined from $944.71 million for the 12 months period that ended on June 30, 2015 to $807.68 million for the 12 months period that ended on June 30, 2016 and that its Net Loss for those respective time periods increased from $0.45 million to $9.23 million.
On November 4, 2016, Agria Corporation announced it had received a letter stating the New York Stock Exchange planned to commence proceedings to delist Agria's American Depositary Shares ("ADSs"). According to Agria Corporation, the NYSE letter stated that it had identified evidence indicating that a top executive and other intermediaries engaged in trading intended to artificially inflate Agria's stock price, and that the Company provided incomplete, misleading, or false information in connection with investigations related to these issues. Trading of the Company's ADSs was suspended on November 3, 2016.
Those who purchased shares of Agria Corporation (ADR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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