Argentinian Cement Maker Gets Shareholder Claims Dismissed

One of Argentina’s largest cement manufacturers defeated claims that it misled investors and caused its share price to drop, convincing a federal court in New York that information about revenue-related risks had been adequately disclosed.

When the Argentinian government publicly announced in 2018 that it would reduce infrastructure spending, the price of Loma Negra Compania Industrial Argentina Sociedad Anonima shares fell, contrary to projections presented in previous reports, shareholders told the U.S. District Court for the Southern District of New York.

But information about delays in government payments to contractors had been publicly available before the announcement and written about ...