Braskem shareholder alert: shareholder rights law firm johnson & weaver, llp announces the filing of a securities class action lawsuit against braskem s.a.; investors encouraged to contact the firm

San diego--(business wire)--shareholder rights law firm johnson & weaver, llp reminds investors of the august 31, 2015 lead plaintiff deadline in a securities class action lawsuit filed by the firm against braskem s.a. (nyse: bak). if you purchased braskem common stock during the period between july 1, 2010 and march 10, 2015 (the “class period”), and suffered significant losses, you are encouraged to contact johnson & weaver regarding your legal rights. additional information about the lawsuit: braskem is a brazilian petrochemical company headquartered in sÃo paulo. the lawsuit seeks to recover damages for braskem investors under the federal securities laws. according to the lawsuit, on march 11, 2015, a report from a sÃo paulo newspaper, folha de s. paolo, implicated braskem in the corruption scandal surrounding petrÓleo brasileiro s.a. – petrobras (“petrobras”). the published report cited testimony by former petrobras executive paulo roberto costa and self-confessed money launderer alberto youssef stating that braskem had paid at least $5 million in bribes annually to petrobras between 2006 and 2012. these payments were made in order to acquire crude derivative contracts, like propylene and naphtha, at cheaper prices. on this news, the price of braskem adrs plummeted over 20%, or $1.80 per adr from their march 10, 2015 close, to close at $7 on march 11, 2015, on usually high trading volume of more than 1.4 million adrs trading, or more than twice the average daily volume over the preceding ten trading days. plaintiff seeks to recover damages on behalf of all purchasers of braskem’s publicly traded securities during the class period. if you wish to serve as a lead plaintiff, you must move the court no later than august 31, 2015. if you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst jim baker (jimb@johnsonandweaver.com) at 619-814-4471. if you email, please include your phone number. about johnson & weaver, llp: johnson & weaver, llp is a nationally recognized shareholder rights law firm with offices in california, new york and georgia. the firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. for more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. attorney advertising. past results do not guarantee future outcomes.
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