NEW YORK, Nov. 17, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, continues investigating potential securities claims on behalf of shareholders of Lendlease Corporation Limited (OTC: LLESY, LLESF) resulting from allegations that Lendlease may have issued materially misleading business information to the investing public.
On November 9, 2018, Lendlease announced that it required a previously unannounced provision of AU$350M due to significant underperformance in its engineering division relating to a number of projects. On this news, Lendlease’s American depositary receipt (“ADR”) price fell over 24%, over the next full trading day, to close at $9.48 per ADR on November 12, 2018.
Then on December 19, 2019, the Sydney Morning Herald published an article entitled “Lendlease sells troubled engineering business to Spain’s Acciona” which described the sale as “Acciona will pay $180 million to Lendlease in a bargain basement price for the division beset with infrastructure projects weighed down with cost overruns and delays.” On this news, Lendlease’s ADRs fell almost 5% over the next three trading days, to close at $12.29 per ADR on December 23, 2019, damaging investors.
Rosen Law Firm is preparing a securities lawsuit on behalf of Lendlease shareholders. If you purchased securities of Lendlease please visit the firm’s website at http://www.rosenlegal.com/cases-register-1918.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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