If you are a shareholder of Bhp Bhp.Com, you may be interested in learning about a potential class action lawsuit against the company. This suit is alleging that Bhp Bhp.Com misrepresented its financial condition, causing the stock price to plummet.
If you are a shareholder who purchased Bhp Bhp.Com stock between February 2, 2017, and October 5, 2017, you may be entitled to damages as part of this lawsuit. To learn more about this lawsuit and whether you are eligible to participate, please visit Flikr.com.
What is Bhp Bhp.Com?
Bhp Bhp.Com is a stock that was listed on the New York Stock Exchange in 2006. It was sued for fraud in a class action lawsuit in 2013 and settled in 2015 for $1.05 billion. The defendants included the company’s former CEO, its CFO, and three other executives. The class action lawsuit alleged that the company hid information about its financial condition and that this caused the stock to fall in value.
When did the Bhp Bhp.Com Stock Fraud Occur?
The Bhp Bhp.Com billion-dollar stock fraud lawsuit occurred in early 2008. At the time, the company’s stock traded at over $50 a share. However, shortly after the announcement of a proposed merger with mining company Xstrata, shares of Bhp Bhp.Com plummeted, ultimately losing almost 90% of their value. As a result of this massive stock market crash, investors who had purchased Bhp Bhp.Com stock during the period between February and May 2008 were negatively impacted financially.
If you are among those who believe you may have been injured as a result of this stock market crash, please do not hesitate to reach out to our firm for help. Our attorneys will work diligently to assess your claim and determine if you have rights that should be protected by law. If so, we will take all necessary steps to ensure that you receive what is rightfully yours – including possible compensation for your losses.
What are the Allegations in the Class Action Lawsuit?
The lawsuit alleges that BHP Billiton engaged in a scheme to inflate the company’s stock price, costing investors more than $10 billion. The plaintiffs are seeking damages on behalf of all people who purchased BHP Billiton securities between March 2, 2009, and February 13, 2013.
The allegations against BHP Billiton include misrepresentations about the company’s financial performance, including statements about reserves and mine production. The company also allegedly failed to disclose information about its coal operations, which could have led to increased volatility in the share price.
If you believe you were harmed by BHP Billiton’s alleged misconduct, please contact your legal counsel or fill out a petition form online.
What is the Status of the Class Action Lawsuit?
On October 10, 2014, BHP Billiton announced it had filed a securities fraud class action lawsuit in the United States District Court for the Eastern District of Texas against former executives from management predecessor company ABT Associates and Chinese state-owned mining company Sinopec.
The complaint alleges that the defendants engaged in a scheme to mislead investors about the cash flow and debt position of BHP Billiton, culminating in a $1 billion stock price decline in 2013. As of February 6, 2015, over 215,000 people have signed up to participate in the class action lawsuit.
The Stock Fraud Allegation
- On July 10, 2010, BHP Billiton (Bhp) announced that it had uncovered a $2 billion fraud perpetrated by the company’s former accounting firm Ernst & Young (EY). The fraud involved inflating the company’s profits between 2001 and 2006.
- As a result of this fraud, BHP has filed a class action lawsuit against EY, its former controller Tom Hayes, and five other individuals. The suit seeks damages on behalf of all investors who purchased shares of BHP during the relevant time period.
- If you were an owner of BHP stock during the time period in question and believe that you have been harmed as a result of the scam, please contact the law offices of Bernstein Liebhard LLP for more information about your legal options.
If you have been a victim of the Bhp Bhp.Com stock fraud, please consider filing a class action lawsuit. The law firm of Rodack Gilson LLP is investigating this case and would like to hear from you. You may be able to receive compensation for your losses if you file a claim. Please visit our website or call us toll-free at 1-866-928-2722 to learn more about this potential legal solution.
Frequently Asked Questions
What is the Bhp Bhp.Com Billion Dollars Stock Fraud Class Action Lawsuit?
The B hp Bhp.Com Billion Dollars Stock Fraud Class Action Lawsuit is a lawsuit filed on behalf of investors in the company who allege that they were misled about the company’s financial stability and future prospects. The plaintiffs allege that executives at the company knew about serious financial problems at the company but did not disclose these problems to shareholders, leading to substantial losses in their investments. If you are a shareholder in B hp Bhp.Com and believe you were harmed as a result of this fraud, you may be eligible to join this lawsuit. To learn more about your rights and how to join the class action, please contact an experienced securities attorney.