Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the Central District of California on behalf of shareholders who purchased American Depositary Receipts of IRSA Inversiones y Representaciones S.A. (“IRSA”) (NYSE: IRS) between November 3, 2014 and December 30, 2015.
The complaint alleges that throughout the Class Period Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) IRSA’s subsidiary, Dolphin Netherlands B.V. (“Dolphin”), does not adequately qualify as a Venture Capital Organization, and therefore, IDB Development Corporation Limited’s (“IDBD”) $6.7 billion net debt should be consolidated with IRSA’s financial statements; (2) the impending consolidation of IDBD’s debt would violate IRSA’s Global Notes Indenture; (3) the terms of the February 10, 2015 related party transaction between Dolphin and Inversiones Financieras Del Sur S.A.; and (4) as a result, IRSA’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in IRSA you have until April 25, 2016 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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