Lawsuit Overview
February 20, 2014 - The court granted the defendants' motions to dismiss with prejudice.
November 26, 2013 - The defendants filed motions to dismiss.
October 29, 2013 - The lead plaintiff filed a second consolidated amended complaint.
October 8, 2013 - The court granted the lead plaintiff leave to file a second amended complaint.
June 6, 2013 - The lead plaintiff filed a consolidated amended complaint on behalf of investors who purchased YPF Sociedad Anonima ADS (American Depositary Shares) (NYSE: YPF) between December 22, 2009 and April 16, 2012. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between December 22, 2009 and April 16, 2012.
May 14, 2013 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.
April 8, 2013 - Lead plaintiff motions were filed.
February 5, 2013 - An investor in American Depositary Shares ADS of YPF Sociedad Anonima (NYSE: YPF) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws in connection with statements made in the company’s March 23, 2011 public offering.
According to the complaint the plaintiff alleged on behalf of on all persons or entities who purchased the American Depositary Shares of YPF Sociedad Anonima (ADS) (NYSE: YPF) pursuant and/or traceable to the Company’s March 23, 2011 offering, that YPF Sociedad Anonima, certain of its officers and directors, and the underwriters of the Company’s March 23, 2011 offering violated the Securities Act of 1933.
On or about November 26, 2010, YPF Sociedad Anonima filed a Form F-3 Registration Statement for the Company’s March 23, 2011 offering with the Securities and Exchange Commission (“SEC”).
Then on or around March 23, 2011, the Prospectus with respect to the Company’s March 23, 2011 offering, which forms part of the Form F-3 Registration Statement, became effective and more than 26.2 million shares of YPF Sociedad Anonima (ADS) (NYSE: YPF) were sold to the public at $41 per share, thereby valuing the total size of the Company’s March 23, 2011 offering at more than $1 billion.
The plaintiff alleges that the Form F-3 Registration Statement, and the documents referenced and incorporated therein, allegedly contained numerous untrue statements of material facts and allegedly omitted to state material facts required to be stated therein in order to make the statements contained therein not misleading.
YPF Sociedad Anonima (ADS) (NYSE: YPF) reported that its Total Revenue rose from over 34.32 billion ARS in 2009 to over 56.69 billion ARS in 2011 and that its respective Net Income increased from over 2.6 billion ARS to over 4.7 billion ARS.
Shares of YPF Sociedad Anonima (ADS) (NYSE: YPF) grew from as low as $16.91 per share in March 2009 to as high as $52.32 per share in March 2011.
Since then NYSE: YPF shares declined to as low as $9.57 per share in November 2012.
On Feb. 5, 2013, NYSE: YPF shares closed at $16.75 per share, which is less than half its current 52 week high.