Hagens Berman: Court Denies Sasol’s (NYSE:SSL) Motion to Dismiss Securities Class-Action Lawsuit
Retrieved on:
Wednesday, September 2, 2020
Jed S. Rakoff denied in large part the defendants motion to dismiss.
Key Points:
- Jed S. Rakoff denied in large part the defendants motion to dismiss.
- The opinion held that the lead plaintiffs complaint sufficiently pleads that the alleged misconduct violates Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
- The lawsuit alleges that Sasols ADRs were artificially inflated because of misrepresentations and omissions about the estimated end-of-job cost and development of the LCCP.
- If you purchased Sasol ADRs and suffered significant losses, click here to discuss your legal rights with Hagens Berman .