Pawar Law Group Announces Filing of Securities Class Action Lawsuit Against Desarrolladora Homex, S.A.B. de C.V. a/k/a Homex Development Corp. – HXM, DHOXQ, DHOXY

NEW YORK, NY / ACCESSWIRE / March 17, 2017 / The Pawar Law Group announces a class action lawsuit on behalf of Desarrolladora Homex, S.A.B. de C.V. a/k/a Homex Development Corp. (HXM, DHOXQ, DHOXY) (OTC PINK: DHHXF) investors who purchased Homex stock between April 30, 2012 and May 5, 2016, inclusive (the “Class Period”). The suit is for recovery of investor losses.

To participate in this class action lawsuit, visit the firm’s website at http://pawarlawgroup.com/cases/homex/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com or call toll free at (866) 999-0873.

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) between 2010 and 2013, Homex overstated its revenue by 355%, or roughly $3.3 billion, by reporting fictitious sales of more than 100,000 homes; (2) between 2010 and 2013, Homex overstated the number of units it sold by over 100,000 units, or 317%, of actual units sold; (3) Homex and certain of its Headquarters Financial Reporting Personnel knowingly and intentionally engaged in a scheme to materially overstate Homex’s revenues, homes sold, and other related financial items; and (4) as a result, defendants’ statements about Homex’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may join the case here: http://pawarlawgroup.com/cases/homex/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com.

Contact:

Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938
vik@pawarlawgroup.com

SOURCE: Pawar Law Group

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