NEW YORK, March 7, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the American Depositary Share of Desarrolladora Homex, S.A.B. de C.V. ("Homex" or the "Company") (formerly NYSE: HXM; formerly OTCMKTS: DHOXQ; formerly OTCMKTS: DHOXY). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/hxm.
The investigation concerns whether Homex and certain of its officers and/or directors have issued materially misleading business information to the investing public.
On March 3, 2017, Homex decided to resolve its charges with the U.S. Securities and Exchange Commission ("SEC") for allegedly reporting $3.3 billion in deceitful sales revenue to boost its revenues in financial statements between 2010 and 2013. The SEC's complaint alleges that during a three-year period, Homex exaggerated its revenue by 355%, or about $3.3 billion by reporting fabricated sales of more than 100,000 homes, thereby four times inflating the numbers of homes actually sold. The SEC's complaint also alleges that "Homex's Headquarters Financial Reporting Personnel intentionally and knowingly uploaded false information into the Company's internal reporting and accounting systems in order to perpetrate the fictitious revenue scheme."
If you are aware of any facts relating to this investigation, or purchased shares of Homex on or before December 9, 2016, you can assist this investigation by visiting the firm's site: www.bgandg.com/hxm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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