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Investigation announced for Investors in shares of Boral Limited (OTC: BOALY)

02-21-2020 04:12 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Boral Limited (OTC: BOALY) shares over potential securities laws violations by Boral Limited.

An investigation for investors in Boral Limited (OTC: BOALY) shares over potential securities laws violations by Boral Limited.

An investigation was announced concerning possible securities laws by Boral Limited in connection with certain financial statements.

Investors who purchased shares of Boral Limited (OTC: BOALY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Boral Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

North Sydney, Australia based Boral Limited manufactures and supplies building and construction materials in Australia, North America, Asia, and internationally. Boral Limited reported that its Total Revenue rose from over $4.25 billion for the 12 months period that ended on June 30, 2017 to over $5.71 billion for the 12 months period that ended on June 30, 2018 and that its Net Income over those respective time periods increased from $296.9 million to $441 million.

On December 5, 2019, Boral Limited disclosed that it identified financial irregularities in its North American window business, involving the misreporting of inventory levels and raw material and labour cost at the window plants, and was conducting an internal investigation into the matter.
On February 9, 2020, Boral Limited revealed that its investigation had found inflated earnings at its North American window-making business and announced that the Company had fired the division's vice president of finance and financial controller.

Shares of Boral Limited (OTC: BOALY) closed on February 13, 2020 at $12.60 per share.

Those who purchased shares of Boral Limited (OTC: BOALY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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