Glancy Prongay & Murray LLP Announces Update In The Class Action On Behalf Of LSB Industries, Inc. Investors

LOS ANGELES--(BUSINESS WIRE)--

Glancy Prongay & Murray LLP ("GPM") announces the appointment of a lead plaintiff and lead counsel in the putative class action lawsuit on behalf of investors of LSB Industries, Inc. ("LSB Industries" or the "Company") LXU that purchased shares between May 8, 2015 and August 7, 2015 (the "Class"). On December 15, 2015, the Honorable Ronnie Abrams, United States District Judge for the Southern District of New York appointed Dennis Wilson as lead plaintiff and GPM as lead counsel on behalf of the Class. Injured investors are encouraged to contact Lesley Portnoy of GPM at 310-201-9150 to discuss their legal rights.

On August 7, 2015, the Company revealed that it intended to implement certain recommendations after the Strategic Committee of the LSB Industries Board of Directors reviewed the Company's business strategy, corporate governance structure, related party transactions and other governance practices of the Company. Additionally the Company announced that the total cost to complete the El Dorado Facility expansion would now be in the range of $660 million to $680, significantly higher that its previous estimates of $495 million to $520 million on May 8, 2015. On this news, shares of LSB declined $12.09 per share, over 34%, to close on August 7, 2015, at $23.01 per share, on heavy volume. Then on September 3, 2015, the Company announced that LSB President and Chief Executive Officer Barry H. Golsen had resigned effective immediately.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that : (1) that the Company's costs related to the expansion of the El Dorado Facility would be significantly higher than reported; and, (2) that, as a result of the foregoing, the Company's statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

If you purchased shares of LSB Industries, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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