FERROGLOBE PLC INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ferroglobe PLC

NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for Southern District of New York against Ferroglobe PLC (“Ferroglobe” or the “Company”) (NASDAQ: GSM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ferroglobe securities from August 21, 2018 and November 26, 2018, inclusive (the “Class Period”).

Investors who purchased shares of Ferroglobe PLC are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Ferroglobe PLC, you may, no later than March 25, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Ferroglobe PLC.

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The filed Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that:

• there was excess supply of the Company’s products;
   
• demand for the Company’s products was declining;
   
• as a result, the pricing of the Company’s products would be materially impacted; and
   
• as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On November 26, 2018, Ferroglobe reported a net loss of $2.9 million for the third quarter of 2018, compared to a net profit of $66.0 million the prior quarter.  In a press release, Ferroglobe attributed the Company’s poor performance to “market conditions in our main products [that] deteriorated through Q3.”  

On this news, the Company’s stock price plummeted $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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