WILMINGTON, Del., March 31, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Platform Specialty Products Corporation (NYSE:PAH)?
- Did you purchase your shares between February 17, 2015 and March 14, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of Florida on behalf of all persons or entities that purchased the common stock of Platform Specialty Products Corporation (“Platform” or the “Company”) (NYSE:PAH) between February 17, 2015 and March 14, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Platform during the Class Period, or purchased shares prior to the Class Period and still hold Platform, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/platform-specialty-products-corporation-pah.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on March 11, 2016, Platform disclosed in its 2015 annual report that the Company had “discovered certain payments made to third-party agents in connection with Arysta LifeScience Limited’s (“Arysta”) government tender business in West Africa which may be illegal or otherwise inappropriate” and had “engaged outside counsel and an outside accounting firm to conduct an internal investigation to review the legality of these and other payments . . . including Arysta’s compliance with the FCPA.”
Then, on March 14, 2016, shortly before the end of the trading day, the Wall Street Journal published a story addressing the disclosures by Platform in its 2015 annual report, entitled “Chemical Company Notifies U.S. of West Africa FCPA Probe.”
On this news, shares of Platform dropped over 7%, closing at $7.95 per share on March 15, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than June 1, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Attorney advertising. Prior results do not guarantee a similar outcome.