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LSB Industries Inc (NYSE: LXU) Investor Securities Class Action Lawsuit 09/25/2015

  • If you purchased shares of LSB Industries Inc (NYSE: LXU), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
LSB Industries, Inc.
Security
NYSE: LXU

Case Name
LSB Industries Shareholder Class Action Lawsuit 09/25/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 5, 2017 - The lead plaintiff filed a corrected second amended complaint.
March 9, 2017 - The lead plaintiff filed a second amended complaint.

March 2, 2017 - The court denied defendants' motion to dismiss with leave to amend.

April 1, 2016 - Defendants filed a motion to dismiss.

February 17, 2016 - The lead plaintiff filed a corrected amended complaint on behalf of investors who purchased LSB Industries Inc (NYSE: LXU) common shares between November 7, 2014 and November 5, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 7, 2014 and November 5, 2015.

November 24, 2015 - Lead plaintiff motions were filed.

September 25, 2015 - An investor in shares of LSB Industries Inc (NYSE: LXU) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by LSB Industries Inc in connection with certain allegedly false and misleading statements made between May 8, 2015 and August 7, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of LSB Industries Inc (NYSE: LXU) common shares between May 8, 2015 and August 7, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 8, 2015 and August 7, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that LSB Industries’ costs related to the expansion of the El Dorado Facility would be significantly higher than reported, and that, as a result of the foregoing, LSB Industries Inc’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

LSB Industries Inc reported that its annual Total Revenue rose from $679.29 million in 2013 to $732.51 million in 2014 while its Net Income declined from $54.96 million in 2013 to $19.63 million. Shares of LSB Industries Inc (NYSE: LXU) grew from $29.29 per share in December 2014 to as high as $45.26 per share in April 2015.

On May 8, 2015, LSB Industries Inc reported its first quarter financial results. LSB Industries Inc reported that its first quarter Revenue rose from $178.53 million in 2014 to $193.86 million in 2015 while its first quarter Net Income declined from $11.64 million in 2014 to $6.68 million in 2015.

On August 7, 2015, LSB Industries Inc reported its results for the second quarter ended June 30, 2105. LSB Industries Inc reported that its second quarter Revenue declined from $201.7 million in 2014 to $182.7 million in 2015 and that its second quarter Net Income declined from $11.1 million to $0.42 million. Shares of LSB Industries Inc (NYSE: LXU) declined to as low as $21.87 per share on August 7, 2015 and continued to decline to as low as $15.39 per share on September 29, 2015.