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Desarrolladora Homex, S.A.B. de C.V. (HXM)

NYSE:HXM

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Desarrolladora Homex, S.A.B. de C.V. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Desarrolladora Homex, S.A.B. de C.V. (“Homex” or the “Company”) (NYSE:HXM) of the May 15, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Homex American Depositary Shares (“ADSs”) between April 30, 2012 and May 5, 2016 (the “Class Period”).  The case, Tames v. Desarrolladora Homex, S.A.B. de C.V. et al, No. 17-cv-01416 was filed on March 14, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by deceitfully reporting overstated sales figures to boost its revenues in financial statements between 2010 and 2013.

Specifically, on March 3, 2017, Homex announced it would resolve charges filed by the U.S. Securities and Exchange Commission (“SEC”) for allegedly reporting $3.3 billion in deceitful sales revenue between 2010 and 2013.  The SEC accused the Company of exaggerating its 2010-2013 period revenue by 355%, or about $3.3 billion.  Satellite images have shown that the Company likely fabricated the development and sales of more than 100,000 homes in Mexico and the SEC charged the Company’s financial reporting personnel for intentionally providing false information.  The stock price has been negatively affected by these allegations, damaging investors.

Take Action

If you invested in Homex ADSs between April 30, 2012 and May 5, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Homex’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Desarrolladora Homex, S.A.B. de C.V. (HXM)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/17/2017

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