Faruqi and Faruqui, LLP Logo
Share this page

Abengoa SA (ABGB)

NasdaqGS:ABGB

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Abengoa SA To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Abengoa SA (“Abengoa” or the “Company”) (NasdaqGS:ABGB) of the October 9, 2015 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 United States District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased Abengoa securities between November 12, 2014 and August 2, 2015.

The complaint alleges that the Company and its executives misled investors in regards to the liquidity of the Company's balance sheet. Specifically, Santiago Seage, CEO of Abengoa, stated on July 31, 2015, that the Company would not seek to raise any debt after the Company announced it would lower its free cash flow guidance and a plan to divest itself of 400 million euros in assets. However, on August 3, 2015, , Abengoa announced a share issuance plan to raise 650 million euros, along with an asset divestiture totaling 500 million euros.

After this contradictory action, Abengoa’s share price fell from a closing price of $11.06 per share on July 31 to a closing price of $6.00 on August 3—a $5.06 or a 45.6% drop.

Take Action

If you invested in Abengoa stock or options between November 12, 2014 and August 2, 2015 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 Abengoa’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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:

  • 08/12/2015

Class Period:

  • 11/12/2014 - 08/02/2015

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.