Tenaris S.A.

Case Details

Class Period:
May 1, 2014 – November 27, 2018
Date Filed:
December 12, 2018
Case Number:
1:18-cv-07059
Jurisdiction:
Eastern District of New York

Case Summary

According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Tenaris's CEO and Chairman, Paolo Rocca, knew that one of his company's executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Sidor; (2) this conduct would lead to Rocca being charged in a graft scheme, and subject Tenaris, its affiliates, and/or executives to heightened governmental scrutiny; and (3) as a result, Tenaris's public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

 

Action Details

View Complaint (pdf)

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