Argentina’s YPF Sued by U.S. Investor Over Share Offering
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YPF SA, the crude-oil producer that was seized by the Argentine government last year, was sued by an investor who accused the company of making false statements before its March 2011 public offering.
The company, its directors and the offering’s underwriters made misleading and untrue statements in a prospectus and in documents filed with the U.S. Securities and Exchange Commission, according to a complaint filed yesterday by Michigan’s Monroe County Employees Retirement System in federal court in Manhattan. The underwriters include Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse Group AG.