Levi & Korsinsky, LLP Announces a Proposed Settlement in the Loma Negra Securities Litigation

NEW YORK, Dec. 29, 2023 /PRNewswire/ --

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK: COMMERCIAL DIVISION

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

TO:     ALL PERSONS or entities WHO purchased or otherwise acquired American Depository Shares of loma negra COMPAÑÍA INDUSTRIAL ARGENTINA SOCIEDAD ANONIMA ("loma" or the "company") pursuant or traceable to the Registration Statement and Prospectus issued by Loma in connection with its November 2017 Initial Public Offering ("IPO").¹

THIS NOTICE WAS AUTHORIZED BY THE COURT AND EXPLAINS HOW YOUR RIGHTS MAY BE AFFECTED BY A PROPOSED CLASS ACTION SETTLEMENT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.²

YOU ARE HEREBY NOTIFIED that a hearing will be held on April 10, 2024, at 2:00 p.m. before the Honorable Andrew Borrok, J.S.C., Supreme Court of New York, County of New York: Commercial Division, 60 Centre Street, Courtroom 238, New York, NY 10007, to determine whether: (1) the proposed Settlement of the above-captioned action (the "Litigation"), as set forth in the Stipulation of Settlement ("Stipulation"), for $24,600,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Final Approval Order, as provided under the Stipulation, should be entered; (3) the Judgment, as provided under the Stipulation, should be entered following fulfillment of the conditions set forth in the Stipulation; (4) to award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), discussed below), and, if so, in what amount; (5) to grant an award to Plaintiff out of the Settlement Fund for his service on behalf of the Settlement Class or for his reasonable time, costs, and expenses directly relating to the representation of the Settlement Class, and if so, in what amount; and (6) the Plan of Allocation should be approved by the Court.  The Court may adjourn or continue the Settlement Hearing or hold the Settlement Hearing by telephonic or video conference without further notice to members of the Settlement Class.  Any change to the Settlement Hearing date, time, or manner will be posted on the settlement website (www.LomaNegraSecuritiesLitigation.com). 

The Litigation is a consolidated securities class action against Loma and the underwriters for Loma's November 2017 IPO (collectively, "Defendants") for making allegedly untrue statements of material fact in the Registration Statement and Prospectus, filed with the U.S. Securities & Exchange Commission in connection with Loma's IPO (the "Offering Materials"), or omitting to state material facts required to be stated therein or necessary to make the statements therein not misleading.

The Settlement was reached on behalf of all Persons and entities who purchased or otherwise acquired Loma's American Depository Shares pursuant and/or traceable to the Registration Statement and Prospectus incorporated therein, as amended, issued by Loma in connection with its November 2017 IPO (the "Settlement Class").

IF YOU PURCHASED OR OTHERWISE ACQUIRED LOMA AMERICAN DEPOSITORY SHARES (TICKER SYMBOL: "LOMA") pursuant or traceable to THE offering materials ISSUED IN CONNECTION WITH LOMA'S IPO, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE LITIGATION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form so that it is postmarked (for U.S. Mail) or received by the private carrier (for FedEx, UPS, etc.), or electronically by the Claims Administrator, no later than April 19, 2024.  Your failure to submit your Proof of Claim and Release by April 19, 2024, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of the Litigation.  If you are a member of the Settlement Class and do not submit a Request for Exclusion from the Settlement, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment and the full and final release of all Released Claims as against the Released Defendant Parties, whether or not you submit a Proof of Claim and Release.

This Summary Notice provides only a summary of matters regarding the Litigation and the Settlement.  If you have not received a copy of the Notice of Proposed Settlement of Class Action ("Notice"), which more completely describes the Settlement and your rights thereunder (including your right to object to or exclude yourself from the Settlement), and a Proof of Claim and Release, you may obtain these documents, as well as a copy of the Stipulation and other settlement documents, online at www.LomaNegraSecuritiesLitigation.com, or by writing to:

Loma Negra Securities Litigation Settlement
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173110
Milwaukee, WI 53217
(877) 311-3744
Email: [email protected]

Inquiries should NOT be directed to the Defendants, the Court, or the Clerk of the Court.  Inquiries, other than requests for the Notice or a Proof of Claim and Release, may be made to Lead Counsel at:

LEVI & KORSINSKY, LLP
Shannon L. Hopkins
33 Whitehall Street, 17th Floor
New York, NY 10004 
Telephone: (212) 363-7500

IF YOU DESIRE TO BE EXCLUDED FROM THE SETTLEMENT CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED (FOR U.S. MAIL) OR RECEIVED BY THE PRIVATE CARRIER (FOR FEDEX, UPS, ETC.), OR ELECTRONICALLY BY THE CLAIMS ADMINISTRATOR, NO LATER THAN MARCH 20, 2024, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT TIMELY REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A PROOF OF CLAIM AND RELEASE.

IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, PLAN OF ALLOCATION, REQUEST BY PLAINTIFF'S COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR AWARD TO PLAINTIFF FOR REPRESENTING THE SETTLEMENT CLASS.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS' COUNSEL SUCH THAT IT IS POSTMARKED (FOR U.S. MAIL) OR RECEIVED BY THE PRIVATE CARRIER (FOR FEDEX, UPS, ETC.), OR (FOR COPIES SENT TO COUNSEL) RECEIVED ELECTRONICALLY, NO LATER THAN MARCH 20, 2024, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED: NOVEMBER 30, 2023                     BY ORDER OF THE SUPREME COURT OF
                                                                      NEW YORK, COUNTY OF NEW YORK:
                                                                      COMMERCIAL DIVISION
                                                                      THE HONORABLE ANDREW BORROK, J.S.C.

¹ Such Persons and entities may be members of the Settlement Class unless excluded under the terms of the Stipulation of Settlement.

² Unless otherwise defined herein, all capitalized terms shall maintain the same meaning as those set forth in the Stipulation, which can be viewed and/or obtained at www.LomaNegraSecuritiesLitigation.com.

SOURCE Levi & Korsinsky, LLP