MINNEAPOLIS, Feb. 8, 2013 (GLOBE NEWSWIRE) -- Zimmerman Reed announces that it is investigating potential claims on behalf of all purchasers of the American Depositary Shares ("ADS") of YPF Sociedad Anonima ("YPF" or the "Company") pursuant or traceable to the Company's March 23, 2011 offering. The investigation concerns possible violations of federal securities laws by YPF, its former parent company Respol, and various banks. The investigation concerns allegedly false and misleading statements in a Registration Statement filed with the Securities and Exchange Commission in connection with the March 23, 2011 offering.
If you are an affected investor and purchased YPF American Depositary Shares between March 23, 2011 and March 28, 2011, or can trace your purchase of ADS to this offering, and you want to learn more about the lawsuit or join the action, contact attorney Anne Regan at Zimmerman Reed, PLLP, toll free 800-755-0098 or via email at Anne.Regan@zimmreed.com. There is no cost or fee to you.
YPF engages in the exploration, development and production of crude oil, natural gas and liquefied petroleum gas ("LPG") in Argentina. The Company also refines, markets, transports, and distributes oil and petroleum products, petroleum derivatives, petrochemicals, LPG and bio-fuels. The Registration Statement allegedly misrepresented or failed to disclose that: (1) YPF faced a risk of nationalization by the Argentinean government; (2) as a result of YPF'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, the risk of nationalization had increased; (3) YPF 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.
Zimmerman Reed has been involved in numerous major complex litigations and class actions over the past thirty years, and has successfully represented thousands of clients in cases involving securities fraud, consumer fraud, environmental, employee rights and benefits, and product liability litigation. You may also visit our website at www.zimmreed.com.
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