An investigation for investors of Irsa Inversiones y Rprsntcins SA shares over potential securities laws violations by Irsa Inversiones y Rprsntcins SA in connection certain financial statements was announced.
Investors who purchased shares of Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS) concerning whether certain statements by Irsa Inversiones y Rprsntcins regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 19, 2015, Spruce Point Capital Management published a report on Irsa Inversiones y Rprsntcins SA alleging, among other things, that Irsa Inversiones y Rprsntcins SA is keeping ~$7 billion of net debt off its books by not consolidating its controlling investment in Israel’s IDB Development Corp, and that Irsa Inversiones y Rprsntcins SA may therefore be in violation of its debt covenant under its existing US$300m Global Bond indenture that requires it to maintain an EBITDA/Interest coverage of 1.75x. Shares of Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS) declined to as low as $11.80 per share on December 14, 2015.
Those who purchased shares of Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com