SHAREHOLDER ALERT - Sasol Limited (SSL) - Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders With Losses Exceeding $100K of Class Action and Lead Deadline

April 6, 2020 - Seite 2

Following these disclosures, Sasol’s ADR price fell $4.50 per share, or 14.93%, to close at $25.64 per share on May 22, 2019.

Later, on August 16, 2019, during pre-market hours, Sasol issued a press release disclosing that it was delaying the announcement of its 2019 financial results because of “possible LCCP control weaknesses.”

On this news, Sasol’s ADR price fell $0.74 per share, or 4.02%, to close at $17.67 per share on August 16, 2019.

Then, on October 28, 2019, Sasol disclosed that its review of the LCCP control weaknesses had brought to light “errors, omissions, and inaccuracies in the [LCCP] cost estimate,” and a number of unethical and improper reporting activities that took place at the highest level of management. Sasol also announced the resignation of, inter alia, its Joint Presidents and Chief Executive Officers (“CEOs”), effective November 1, 2019, and Senior Vice Presidents and others previously in charge of the LCCP.

Finally, on January 14, 2020, Sasol issued a press release confirming that on January 13, 2020, the Company “experienced an explosion and fire at its LCCP low-density polyethylene (LDPE) unit.” Sasol stated that “[t]he unit was in the final stages of commissioning and startup when the incident occurred” and “has been shut down and an investigation is underway to determine the cause of the incident, the extent of the damage and resulting impact on the LDPE unit’s [beneficial operation] schedule.”

Following these disclosures, Sasol’s ADR price fell $1.70 per share, or 7.84%, over the following two trading days, closing at $19.99 per share on January 15, 2020.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ssl or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Sasol you have until April 6, 2020 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

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