NEW YORK, NY--(Marketwired - April 05, 2016) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Platform Specialty Products Corporation ("Platform" or the "Company") (NYSE: PAH) of the sixty-day deadline from March 30, 2016 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all those who purchased Platform securities between February 17, 2015 and March 14, 2016 (the "Class Period"). The case, Dillard v. Platform Specialty Products Corporation et al, No. 9:16-cv-80490 was filed on March 30, 2016, and has been assigned to Judge Donald M. Middlebrooks.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) Arysta LifeScience Limited ("Arysta") made improper third-party payments in West Africa; (2) that the payments were unlawful under the U.S. Foreign Corrupt Practices Act ("FCPA"); and (3) as a result, Platform's public statements were materially false and misleading at all relevant times.
Specifically, the lawsuit alleges that on March 11, 2016, the Company disclosed in its 2015 annual report that 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, on March 14, 2016.
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, on March 15, 2016.
Request more information now by clicking here: www.faruqilaw.com/PAH. There is no cost or obligation to you.
Take Action
If you invested in Platform stock or options between February 17, 2015 and March 14, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/PAH. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Platform's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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