GlobeNewswire Inc | Oct 26, 2020 08:01AM EDT

October 26, 2020

Investors with a $100,000 or more in losses are encouraged to contact the firm before October 26, 2020; click here to submit trade information

LOS ANGELES, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Braskem, S.A. (NYSE: BAK) investors that acquired shares between May 6, 2016 and July 8, 2020. Investors have until October 26, 2020 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors options for pursuing claims to recover their losses.

The complaint filed in this lawsuit alleges that the company issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On July 9, 2020, Braskem disclosed that the company was advised by Brazilian authorities that the residents of 1,918 homes were forced to be evacuated after the companys mining operations caused a geological event. Braskem estimates the cost of relocating the residents would be 850 million reais, with another 750 million reais for additional measures relating to the permanent closure of its salt mining activities. On the same day, Braskems ADRs fell by more than 6% on this news.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 26, 2020.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firms founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.Admitted CA and NY Barlesley@portnoylaw.com310-692-8883www.portnoylaw.com

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