LOS ANGELES, CA / ACCESSWIRE / October 24, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Braskem S.A. ("Braskem" or "the Company") (NYSE:BAK) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between May 6, 2016 and July 8, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before October 26, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Braskem operated its salt mines in an unsafe manner resulting in significant danger to the approximately 2,000 properties in the nearby area. The Company's disregard for safe operations put it at risk for remedial liabilities to these property's owners, including permanent closure of a salt mine. The Company downplayed the seriousness of its liabilities in this regard. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Braskem, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm