NEW YORK, Feb. 29, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against IRSA Inversiones y Representaciones S.A. ("IRSA" or the "Company") (NYSE: IRS). The class action has been filed in the USDC for the Central District of California on behalf of a class consisting of all persons or entities who purchased IRSA Inversiones y Representaciones S.A. American Depositary Receipts during the period between November 3, 2014 and December 30, 2015 inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The complaint alleges that throughout the Class Period, the Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) IRSA's subsidiary, Dolphin Netherlands B.V. ("Dolphin"), does not sufficiently qualify as a Venture Capital Organization, and therefore, IDB Development Corporation Limited's ("IDBD") $6.7 billion net debt should be consolidated with IRSA's financial statements; (2) the upcoming consolidation of IDBD's debt would violate IRSA's Global Notes Indenture; (3) the terms of the February 10, 2015 related party transaction between Dolphin and Inversiones Financieras Del Sur S.A.; and (4) as a result, IRSA's public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!irsa/cfa3t. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in IRSA Inversiones y Representaciones S.A. you have until April 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org
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