Desarrolladora Homex, S.A.B. de C.V.
Period: Apr 30, 2012 to May 5, 2016
Lead Plaintiff Deadline: May 15, 2017
Summary of Case:
A securities class action has been filed against Desarrolladora Homex, S.A.B. de C.V. a/k/a Homex Development Corp. (formerly NYSE: HXM; formerly OTCMKTS: DHOXQ; formerly OTCMKTS: DHOXY) on behalf of all persons who purchased or otherwise acquired PSI securities between April 30, 2012 through May 5, 2016. This case has been filed in the USDC - NY (Eastern).
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) between 2010 and 2013, Homex overstated its revenue by 355% or roughly $3.3 billion by reporting fictitious sales of more than 100,000 homes; (2) between 2010 and 2013, Homex overstated the number of units it sold by over 100,000 units or 317% of actual units sold; (3) Homex and certain of its Headquarters Financial Reporting Personnel knowingly and intentionally engaged in a scheme to materially overstate Homex's revenues, homes sold, and other related financial items; and (4) as a result, defendants' statements about Homex's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.