TENARIS SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSESCLICK HERE TO VIEW THE FIRM RÉSUMÉ OF BERNSTEIN LIEBHARD LLP.
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tenaris S.A. (“Tenaris” or the “Company”) (NYSE: TS) resulting from allegations that Tenaris and/or its executives may have issued materially misleading business information to the investing public.
If you purchased Tenaris securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above.
TENARIS LOSSES ALERT: BERNSTEIN LIEBHARD LLP ANNOUNCES INVESTIGATION OF TENARIS S.A. – TS
November 28, 2018.
New York, New York—Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tenaris S.A. (“Tenaris” or the “Company”) (NYSE: TS) resulting from allegations that Tenaris and/or its executives may have issued materially misleading business information to the investing public.
On November 27, 2018, Bloomberg reported that Tenaris’ Chairman and Chief Executive Officer Paolo Rocca was indicted for his role in a graft scheme. According to the article, “[t]he judge charged Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012.” The article stated that “[t]he officials were allegedly working for then-President Cristina Fernandez de Kirchner’s administration to speed up a compensation payment from Venezuela…for the nationalization of Sidor, a unit that…Rocca’s group was [ultimately paid] $1.95 billion for[.]” The judge set a $103 million bond and banned Rocca from leaving the country.
On this news, Tenaris’ stock fell $2.64 per share or nearly 10% to close at $24.36 per share on November 27, 2018, damaging investors.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.