RADNOR, Pa., Oct. 20, 2015 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”) on behalf of purchasers of the Company’s securities between May 8, 2015 and August 7, 2015, inclusive (the “Class Period”).

For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/lsb-industries-inc.

LSB shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.

LSB is a manufacturing and marketing company. The Company’s principal business activities consist of the manufacture and sale of chemical products, and of commercial and residential climate control products.

The Complaint alleges that, during the Class Period, LSB and certain of its executive officers made a series of false and misleading statements and/or failed to disclose: (1) that the Company’s costs related to the expansion of the El Dorado Facility would be significantly higher than reported; and (2) that, as a result of the foregoing, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

As detailed in the Complaint, on August 7, 2015, LBS revealed that it intended to implement certain recommendations after the Strategic Committee of the LSB Industries Board of Directors reviewed the Company’s business strategy, corporate governance structure, related party transactions and other governance practices of the Company. Additionally the Company announced that the total cost to complete its El Dorado Facility expansion would be $660 – $680 million, significantly higher that its previous estimates for the facility of $495 – $520 million and, most recently in July 2015, of $560 – $575 million.

On this news, shares of LSB declined $12.09 per share, or over 34%, to close on August 7, 2015 at $23.01 per share, on heavy volume.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at info@ktmc.com

LSB shareholders who purchased their securities during the Class Period may, no later than November 24, 2015, petition the Court for appointment as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. 

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299 - 7706
(610) 667 - 7706
info@ktmc.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.