Investigation Overview
August 10, 2015 (Shareholders Foundation) - An investigation on behalf of investors of LSB Industries, Inc. (NYSE:LXU) shares was initiated over potential securities laws violations by LSB Industries and certain of its directors and officers in connection certain financial statements.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of LSB Industries, Inc. (NYSE:LXU) concerning whether a series of statements by LSB Industries, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Oklahoma City, OK based LSB Industries, Inc. is a holding company engaged in manufacturing and marketing operations through its subsidiaries. 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.