NEW YORK, Feb. 18, 2020 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Boral Limited ("Boral" or the "Company") (OTCMKTS: BOALY; BOALF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Boral and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 5, 2019, Boral disclosed that it had identified financial irregularities in its North American window business, involving the misreporting of inventory levels and raw material and labor cost at the window plants, and was conducting an internal investigation into the matter. Then, on February 9, 2020, Boral revealed that its investigation had found inflated earnings at its North American window-making business and announced that the Company had fired the division's vice president of finance and financial controller.
On this news, Boral's American depositary receipt price fell $1.08 per share, or 7.83%, to close at $12.72 per share on February 10, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP