Investigation Overview
An investigation on behalf of investors of Atlantia S.p.A. (OTC: ATASY) shares over potential securities laws violations by Atlantia S.p.A.
and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Atlantia S.p.A. (OTC: ATASY) concerning whether a series of statements by Atlantia S.p.A. (OTC: ATASY regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Italy based Atlantia S.p.A., through its subsidiaries, engages in the construction and operation of motorways, airports and transport infrastructure, parking areas, and intermodal systems. Atlantia S.p.A. reported that its annual Total Revenue rose from over $6.02 billion in 2016 to over $6.2 billion in 2017 and that itsNet Income increased from over $1.12 billion in 2016 to over $1.17 billion in 2017.
Shares of Atlantia S.p.A. (OTC: ATASY) grew from $10.21 per share in November 2016 to as high as $17.14 per share in March 2017.
On August 14, 2018, a motorway bridge operated by Atlantia's subsidiary Autostrade per L'Italia ('Autostrade') collapsed, killing 43 people. On August 16, 2018, media outlets reported that the Italian government had opened an investigation into Autostrade. Italy's Deputy Transport Minister stated that the government was considering revoking Autostrade's operating concession and imposing a fine of upwards of 150 million on Autostrade.
Shares of Atlantia S.p.A. (OTC: ATASY) declined to $9.19 per share on August 17, 2018.