NEW YORK, Dec. 3, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of IRSA Inversiones y Representaciones S.A. ("IRSA" or the "Company") (NYSE: IRS -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at email@example.com or 212-697-6484.
The investigation concerns whether IRSA and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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 IRSA fell $1.25, or 7.7%, to close at $15.06 on November 20, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of IRSA, 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 firstname.lastname@example.org. 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 email@example.com
SOURCE Bronstein, Gewirtz & Grossman, LLC