Investors Fight Cement Co.'s Bid To Pause $1B IPO Suit

Law360 (July 11, 2019, 2:26 PM EDT) -- Investors in Loma Negra Corp. said Wednesday that the Argentine cement maker was simply forum-shopping by asking that their federal court suit over its $1 billion initial public offering be paused in favor of a state court action.

The plaintiffs claiming Loma Negra’s IPO documents downplayed an ongoing corruption scandal engulfing its majority owner told a New York federal judge that nothing warrants a stay of the federal court action while the state court suit plays out, arguing the federal court could actually resolve all claims at issue in the lower court.

“The state court cannot,” according to the investors. “As...

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New York Southern

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Securities/Commodities

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December 5, 2018

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