NEW YORK, Nov. 09, 2016 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Agria Corporation (“Agria” or the “Company”) (NYSE: GRO ) of the January 9, 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 District of New Jersey on behalf of all those who purchased Agria American Depository Shares (“ADSs”) between December 16, 2011 and November 4, 2016 (the “Class Period”). The case, BALON v. AGRIA CORPORATION et al ., No. 16-cv-08376 was filed on November 9, 2016, and has been assigned to Judge Leda D. Wettre.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company and its executives had been engaging in trading to artificially inflate the Company’s ADS’s price.
Specifically, on November 4, 2016, Agria issued a press release announcing that it received a letter from New York Stock Exchange (“NYSE”) on November 3, 2016, informing the Company that the NYSE decided to commence proceedings to delist Agria ADS from the NYSE. The NYSE claimed that certain Company executives had been trading Agria ADSs in an effort to inflate the stock price. Further, the Company also disclosed that, on December 23, 2015, it had received a subpoena from the SEC relating to a SEC’s nonpublic investigation onto Agria’s historic and ongoing business operations in China.
After these announcements, Agria ADS was suspended on November 3, 2016 at a closing price of $0.85 per ADS.
Request more information now by clicking here: www.faruqilaw.com/GRO . There is no cost or obligation to you.
Take Action
If you invested in Agria ADSs between December 16, 2011 and November 4, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/GRO . 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 Agria’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330
