Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the American Depositary Shares of YPF Sociedad Anonima (“YPF” or the “Company”) (NYSE:YPF) pursuant and/or traceable to the Company’s March 23, 2011 offering. The Complaint alleges that the Registration Statement filed with the Securities and Exchange Commission in connection with the March 23, 2011 offering was materially false and misleading.
YPF engages in the exploration, development and production of crude oil, natural gas and liquefied petroleum gas (LPG) in Argentina. The Company is involved also in refining, marketing, transporting and distributing oil and petroleum products, petroleum derivatives, petrochemicals, LPG and bio-fuels. The investigation is related to allegations that the Registration Statement misrepresented or failed to disclose that: (1) the Company faced a risk of nationalization by the Argentinean government; (2) the risk of nationalization had increased as a result of the Company’s failure to adequately produce oil and gas within Argentina and reinvest a substantial portion of its profits back into the Company and its operations; (3) the Company was in breach of its concession contracts with various Argentinean provinces; and (4) nationalization by the Argentinean government would likely have a severe adverse effect on shareholders and on the Company’s market value.
If you are a member of the Class described above, you may move the Court, no later than April 6, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to learn more about this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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