SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

March 02, 2016 14:50 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of IRSA Inversiones y Representaciones S.A. of Class Action Lawsuit and a Lead Plaintiff Deadline of April 25, 2016 -- IRS

NEW YORK, NY--(Marketwired - March 02, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired American Depositary Receipts of IRSA Inversiones y Representaciones S.A. ("IRSA") (NYSE: IRSbetween November 3, 2014 and December 30, 2015.

You are hereby notified that a securities class action has been commenced in the USDC for the Central District of California. If you purchased or otherwise acquired IRSA ADRs between November 3, 2014 and December 30, 2015, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/irsa.

The complaint alleges that throughout the Class Period Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) IRSA's subsidiary, Dolphin Netherlands B.V. ("Dolphin"), does not adequately qualify as a Venture Capital Organization, and therefore, IDB Development Corporation Limited's ("IDBD") $6.7 billion net debt should be consolidated with IRSA's financial statements; (2) the impending consolidation of IDBD's debt would violate IRSA's Global Notes Indenture; (3) the terms of the February 10, 2015 related party transaction between Dolphin and Inversiones Financieras Del Sur S.A.; and (4) as a result, IRSA's public statements were materially false and misleading at all relevant times.

If you suffered a loss in IRSA you have until April 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/irsa.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT: 
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004 
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com