Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the USDC for the Eastern District of New York on behalf of shareholders of Desarrolladora Homex, S.A.B. de C.V. (“Homex”) (OTCMKTS: DHHXF, formerly HXM, DHOXQ, DHOXY) who purchased American Depositary Shares of Homex between April 30, 2012 through May 5, 2016.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) between 2010 and 2013, Homex overstated its revenue by 355% or roughly $3.3 billion by reporting fictitious sales of more than 100,000 homes; (2) between 2010 and 2013, Homex overstated the number of units it sold by over 100,000 units or 317% of actual units sold; (3) Homex and certain of its Headquarters Financial Reporting Personnel knowingly and intentionally engaged in a scheme to materially overstate Homex’s revenues, homes sold, and other related financial items; and (4) as a result, defendants’ statements about Homex’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
If you suffered a loss in Homex you have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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