STEVENSON, Md., Nov. 11, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Agria Corporation (NYSE: GRO ) (“Agria” or the “Company”) American Depositary Shares (“ADSs”) between December 16, 2011 and November 4, 2016, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until January 9, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Agria ADSs during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Defendants were conducting large volume trading to artificially inflate the price of Agria’s ADSs to meet the New York Stock Exchange’s (“NYSE”) listing standards and to avoid being delisted, and Agria lacked sufficient internal controls over financial reporting.
According to the complaint, following a November 4, 2016 press release announcing that the NYSE decided to commence proceedings to delist Agria’s ADSs and that the Company had received a subpoena from the Securities and Exchange Commission regarding historic and ongoing business operations, the value of Agria ADSs declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Agria ADSs purchased on or after December 16, 2011 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
