NEW ORLEANS, April 17, 2015 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 18, 2015 to file lead plaintiff applications in a securities class action lawsuit against Chemical Mining Co. of Chile Inc. ( NYSE: SQM) if they purchased the Company's securities between March 4, 2014 and March 17, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Chemical Mining and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 18, 2015.
About the Lawsuit
Chemical Mining and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) money from Chemical Mining was channeled illicitly to electoral campaigns for the Independent Democratic Union ("UDI"), Chile's largest conservative party; and (ii) the Company lacked adequate internal controls over financial reporting.
On February 26, 2015, Chemical Mining issued the first of a series of disclosures, which revealed that the Company was linked to an ongoing UDI contribution scandal and ultimately culminated in the termination of the Chief Executive Officer and resignation of three Board members.
On this news, the price of Chemical Mining's shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC