SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Abengoa, S.A. – ABGB

NEW YORK, NY / ACCESSWIRE / August 14, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Abengoa, S.A. (“Abengoa” or the “Company”) (NASDAQ: ABGB). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Abengoa and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On July 31, 2015, the Spanish engineering company announced its results for the quarter ended June 30, 2015. In part, Abengoa lowered its free cash flow guidance and announced a plan to divest 400 million euros in assets. Subsequently, on August 3, 2015, contrary to the July 31 announcement, the company issued a press release announcing a share issuance to raise 650 million euros, along with an asset divestiture totaling 500 million euros (100 million euros more than as announced on July 31).

On these announcements, the price of Abengoa’s ADSs dropped over $5 per share, or 46%, from a closing price of $11.06 on July 31, 2015 to close at $6.00 on August 4, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

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