Tag Archives: Astor Asset Management 3 Ltd

Antitrust, Business Law, Corporate Law, Securities, Trade Law

Astor Asset Management Impulsa Demanda Colectiva Contra Ricardo Salinas y Grupo Elektra por Falta de Transparencia Financiera

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VANCOUVER, Canadá, 11-Sep-2024 — /EuropaWire/ — En una iniciativa de gran importancia para los accionistas de Grupo Elektra, S.A.B. de C.V., Astor Asset Management 3 Ltd ha comenzado el proceso de conformar un grupo de inversores para llevar adelante una demanda colectiva contra Ricardo Benjamin Pliego Salinas y su empresa, Grupo Elektra. La demanda se basa en la falta de divulgación de transacciones financieras clave, como préstamos y pignoraciones de acciones, por parte de Salinas, lo que, según la firma, ha causado un daño material a los accionistas.

De acuerdo con Astor Asset Management, Salinas y su familia, quienes poseen una participación mayoritaria en Grupo Elektra, no han cumplido con las obligaciones de transparencia, afectando el precio de las acciones de la compañía. El objetivo de la demanda es obtener compensaciones para los accionistas que, según se alega, han sufrido pérdidas debido a la sobrevaloración del precio de las acciones de la empresa.

Astor invita a los inversores que adquirieron acciones de Grupo Elektra en los últimos siete años a unirse a esta acción colectiva, con la intención de buscar justicia y transparencia en el mercado.

SOURCE: EuropaWire

Antitrust, Business Law, Cases, Securities, Trade Law

Investors to Pursue Class Action Against Ricardo Salinas and Grupo Elektra Over Alleged Financial Misconduct and Shareholder Harm

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VANCOUVER, 11-Sep-2024 — /EuropaWire/ — In a significant development within the investment community, Astor Asset Management 3 Ltd has initiated steps to form a group of investors to pursue legal action against Ricardo Benjamin Pliego Salinas and Grupo Elektra, S.A.B. de C.V. The lawsuit alleges Salinas, who controls 74% of Elektra’s shares, has engaged in improper financial dealings, including undisclosed loans and share pledges, that have harmed shareholders.

The case centers on Salinas’s alleged failure to disclose critical financial transactions, such as the recent pledge of 7.2 million Elektra shares as collateral for a loan with Astor Asset Management. The lack of transparency surrounding these activities, along with previous non-disclosures of trades and loans, has drawn the attention of regulators and investors alike.

Astor claims that Salinas’s actions have contributed to an overvaluation of Elektra shares, which trade at an inflated price despite declining earnings. These factors, combined with a series of prior regulatory fines for Salinas, have raised concerns of market manipulation and misinformation.

Astor is calling on investors who have purchased Elektra shares within the last seven years to join the class action, with the goal of seeking compensation for financial losses incurred due to alleged manipulation and lack of regulatory compliance. The lawsuit is expected to be filed in multiple jurisdictions, including Mexico, the United States, and Europe.

SOURCE: EuropaWire