NEW YORK, April 27, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired Chemical & Mining Co. of Chile Inc. American Depositary Shares (NYSE: SQM) between March 4, 2014 and March 17, 2015.
You are hereby notified that a class action has been commenced in the USDC for the Southern District of New York. If you purchased Chemical & Mining Company of Chile Inc. ("SQM") American Depositary Shares ("ADSs") between March 4, 2014 and March 17, 2015, your rights may be affected by this action. To get more information, go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the company concealed from the investing public that: (a) money from SQM was channeled illicitly to electoral campaigns for the Independent Democratic Union, Chile's largest conservative party; (b) the Company lacked adequate controls over financial reporting; and (c) as a result, the Company's financial statements were materially false and misleading at all relevant times.
On March 16, 2015, the Company announces that it had turned over information requested by the Public Prosecutor pursuant to a request made by the Prosecutor. The Company also announced that the Board had agreed to terminate CEO Patricio Contesse, effective immediately.
If you suffered a loss in SQM you have until May 18, 2015to 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.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free:(877) 363-5972 Fax: (212) 363-7171 www.zlk.com