NEW ORLEANS, Nov. 06, 2015 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 24, 2015 to file lead plaintiff applications in a securities class action lawsuit against LSB Industries Inc. (NYSE:LXU) if they purchased the Company’s securities after May 8, 2015 (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of LSB and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 24, 2015.
About the Lawsuit
LSB and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 7, 2015, LSB disclosed that the total cost to complete its El Dorado Facility expansion would be in the range of $660-680 million, significantly higher than LSB’s May and July 2015 estimates, and stated that it intended to implement recommendations after its Board’s Strategic Committee reviewed the Company's business strategy, corporate governance structure, related party transactions and other governance practices of the Company.
On November 6, 2015, the Company changed its cost estimate for the El Dorado plant again to $831-$855 million.
On this news, the price of LSB Industries’ stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.