NEW YORK, NY / ACCESSWIRE / August 7, 2015 / Pomerantz LLP is investigating claims on behalf of investors of LSB Industries, Inc. ("LSB Industries" or the "Company") (NYSE: LXU). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether LSB Industries and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 7, 2015, pre-market, the chemical company announced its financial and operating results for the second quarter of 2015, missing earnings estimates by $0.35 cents. Concurrently, the company announced that its board's Strategic Committee had presented the company with a report and certain recommendations on July 30, 2015 following an evaluation of the Company's business strategy, corporate governance structure, related party transactions and other governance practices of the Company. Lance Benham, Chairman of the Strategic Committee, said, "We believe the actions taken by the Board will significantly improve the Company's corporate governance structure, enhance the execution of the Company's strategic growth initiatives and ultimately drive improved shareholder value. We look forward to seeing the benefits of these initiatives and continuing to work with the management team as it lowers production costs, improves manufacturing efficiency and drives sales growth which, we believe, will lead to enhanced profitability."
On this news, the company's stock has fallen as much as $11.73, or 33%, on intraday trading on August 7, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz, LLP
