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Ferroglobe PLC (GSM)

NASDAQ:GSM

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Ferroglobe PLC To Contact The Firm


Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ferroglobe PLC ("Ferroglobe" or the "Company")(NASDAQ:GSM) of the March 25, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.


If you invested in Ferroglobe stock or options between August 21, 2018 and November 26, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/GSM. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by filing out the form below.


The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Ferroglobe securities between August 21, 2018 and November 26, 2018 (the "Class Period"). The case, Treankler v. Ferroglobe PLC et al., No. 19-cv-00629 was filed on January 22, 2019 and has been assigned to Judge Ronnie Abrams.


The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose to investors: (1) that there was excess supply of the Company’s products; (2) that demand for the Company’s products was declining; and (3) that, as a result, the pricing of the Company’s products would be materially impacted.


On November 26, 2018, the Company reported poor financial results for the third quarter 2018. In a press release, the Company reported a net loss of $2.9 million and adjusted EBITDA of $45.0 million, which was down 47.9% from the prior quarter adjusted EBITDA of $86.3 million.
On this news, Ferroglobe's share price fell from $4.77 per share on November 26, 2018 to a closing price of $1.80 on November 27, 2018: a $2.97 or a 62.26% drop.
 

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  • Case:
    Ferroglobe PLC (GSM)
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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:

  • 01/23/2019

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