An investigation for investors in Sasol Limited (NYSE: SSL) shares over potential securities laws violations by Sasol Limited (NYSE: SSL) was announced.
San Diego, CA -- (SBWIRE) -- 09/25/2019 -- An investigation on behalf of investors of Sasol Limited (NYSE: SSL) shares over potential securities laws violations by Sasol Limited in connection with certain financial statements was announced.
Investors who purchased shares of Sasol Limited (NYSE: SSL), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sasol Limited (NYSE: SSL) concerning whether a series of statements by Sasol Limited (NYSE: SSL regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
South Africa based Sasol Limited operates as an integrated chemical and energy company in South Africa. Sasol Limited reported that its Total Revenue rose from over 172.4 billion ZAR for the 12 months period that ended on June 30, 2017 to over 181.46 billion ZAR for the 12 months period that ended on June 30, 2018, and that its Net Income over those time periods declined from 20.37 billion ZAR to over 8.72 ZAR.
On August 16, 2019, Sasol Limited revealed that the announcement of its financial results for fiscal year 2019 would be delayed due to possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. Additionally, Sasol Limited announced that the Lake Charles project, which initially was expected to cost $8.9 billion, has experienced delays and rising costs. As a result, cost guidance for the project has skyrocketed to at least $12.6 billion. Finally, Sasol Limited announced that will delay the start of an ethane cracker at the project due to a technical glitch related to a large heat exchanger.
Those who purchased shares of Sasol Limited (NYSE: SSL) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in conftact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.