NEW YORK, May 05, 2016 (GLOBE NEWSWIRE) -- Stull, Stull & Brody ("SS&B") announces that a class action lawsuit was commenced in the United States District Court for the Southern District of Florida on behalf of persons who purchased or acquired the securities of Platform Specialty Products (“Platform” or the “Company”) (NYSE:PAH) between February 17, 2015 and March 14, 2016 (the "Class Period"). 

If you purchased Platform securities during the Class Period you may move the Court to serve as lead plaintiff by no later than June 1, 2016. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.

SS&B is also investigating whether allegations in the class action were breaches of fiduciary duties by the officers and directors of Platform. An action for breaches of fiduciary duty can be brought derivatively by a shareholder who held Company stock at the start of the Class Period and who continues to hold Company stock until the derivative action has concluded.

The lawsuit alleges Platform and others, in violation of federal securities laws, made false and/or misleading statements and/or failed to disclose: (1) Arysta LifeScience Limited (“Arysta”) violated the U.S. Foreign Corrupt Practices Act (“FCPA”) and, as a result, Platform’s public statements were materially false and misleading. On March 11, 2016, Platform disclosed it discovered that Arysta made improper third-party payments in West Africa that may have been illegal. On this news, share price fell $0.28 per share the following trading day to close at $8.57 per share, a ~3.16% drop.

In addition, the lawsuit alleges that on March 14, 2016, the Wall Street Journal published a story entitled “Chemical Company Notifies U.S. of West Africa FCPA Probe” that addressed the aforementioned allegations. On this news, share price fell $0.62 per share the next day to close at $7.95 per share, a ~7.23% drop.

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 Michael J. Klein, Esq. at Stull, Stull & Brody by e-mail at PAH@ssbny.com, by calling toll-free 1-800-337-4983 x147, or by fax at 212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Beverly Hills. The Stull, Stull & Brody website (www.ssbny.com) has additional information about the firm.

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