NEW YORK, Dec. 3, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria. ("CRESY" or the "Company") (NasdaqGS: CRESY -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at firstname.lastname@example.org or 212-697-6484.
The investigation concerns whether CRESY and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
CRESY owns approximately 64% of IRSA Inversiones y Representaciones S.A. On November 19, 2015, Spruce Point Capital Management published a report on IRSA asserting, among other things, that IRSA is keeping roughly $7 billion of net debt off the Company's books by not consolidating its controlling investment in Israel's IDB Development Corp., and that IRSA may therefore be in violation of its debt covenant under its existing $300 million Global Bond indenture that requires it to maintain an EBITDA/Interest coverage of 1.75x. In addition, the Spruce Point report alleged that certain of IRSA's related party transactions had not been fully disclosed.
Following this news, shares of CRESY declined, damaging investors.
If you are aware of any facts relating to this investigation, or purchased shares of CRESY, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman 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, email and telephone number.
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 Eitan Kimelman 212-697-6484 firstname.lastname@example.org
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