|By Marketwired .||
|February 6, 2013 01:56 PM EST||
ATLANTA, GA -- (Marketwire) -- 02/06/13 -- A class action lawsuit has been filed on behalf of investors who purchased the American Depositary Shares ("ADSs") of YPF Sociedad Anonima ("YPF" or the "Company") (NYSE: YPF) pursuant or traceable to the Company's March 23, 2011 offering (the "Offering"). The lawsuit, which was filed in the United States District Court for the Southern District of New York, alleges YPF, certain of its officers and directors, and the underwriters of the Offering violated the Securities Act of 1933 (the "Securities Act").
On or about November 26, 2010, YPF filed a Form F-3 Registration Statement (the "Registration Statement") for the Offering with the SEC. On or about March 23, 2011, the Prospectus with respect to the Offering, which forms part of the Registration Statement, became effective and more than 26.2 million shares of YPF ADSs were sold to the public at $41 per share, thereby valuing the total size of the Offering at more than $1 billion.
According to the complaint, YPF's Registration Statement failed to disclose and misrepresented the following adverse facts, among others, which existed at the time of the Offering: (1) that the Company faced a risk of nationalization by the Argentinean government; (2) that the risk of nationalization had increased because of the Company's failure to: (a) adequately produce oil and gas within Argentina; and (b) reinvest a substantial portion of its profits back into the Company and its operations; (3) that the Company was in breach of its concession contracts with various Argentinean provinces; and (4) that nationalization by the Argentinean government would likely have a severe adverse effect on shareholders and on the Company's market value.
If you purchased YPF ADSs pursuant or traceable to the Company's March 23, 2011 Offering and suffered a net loss on those purchases, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than April 6, 2013. Any member of the purported 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.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. ([email protected]) or Marshall P. Dees, Esq. ([email protected]) by email or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
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