NEW YORK, Jan. 23, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Ferroglobe PLC ("Ferroglobe" or the "Company") (NASDAQ: GSM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ferroglobe and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 26, 2018, Ferroglobe reported a net loss of $2.9 million for the third quarter of 2018, compared to a net profit of $66.0 million the prior quarter. In a press release, Ferroglobe attributed the Company's poor performance to "market conditions in our main products [that] deteriorated through Q3."
On this news, the Company's stock price fell $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018.
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