NEW YORK, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sasol Limited (“Sasol” or the “Company”) (NYSE: SSL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Sasol and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 16, 2019, the Company announced that it was delaying the announcement of its financial results for fiscal year 2019 due to a possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. Additionally, the Company announced that the Lake Charles project, which initially was expected to cost $8.9 billion, has experienced delays and rising costs. As a result cost guidance for the project has skyrocketed to at least $12.6 billion. Lastly, the Company announced that will delay the start of an ethane cracker at the project due to a technical glitch related to a large heat exchanger. On this news, Sasol’s stock price fell sharply on August 16, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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 80 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
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
