An investigation for investors in Tecnoglass Inc. (NASDAQ:TGLS) shares over potential securities laws violations by Tecnoglass Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/12/2022 -- Tecnoglass Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Tecnoglass Inc. (NASDAQ: TGLS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Tecnoglass Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Colombia based Tecnoglass Inc., through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America.
On December 9, 2021, Hindenburg Research published a short-seller report on Tecnoglass, "Cocaine Cartel Connections, Undisclosed Family Deals, And Accounting Irregularities All In One Nasdaq SPAC." Hindenburg Research detailed a series of alarming red flags about Tecnoglass. Specifically, the report stated, "Our months-long investigation has included review of US and Colombian court records, securities filings, corporate registrations, property records, export records and media reports going back decades. We have identified serious red flags regarding management and numerous undisclosed related party transactions that call the company's reported financial results into question."
Shares of Tecnoglass Inc. (NASDAQ: TGLS) declined from $34.08 per share on December 7, 2021, to $18.10 per share on December 9, 2021.
Those who purchased shares of Tecnoglass Inc. (NASDAQ: TGLS) have certain options and should contact the Shareholders Foundation.
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