MercoPress. South Atlantic News Agency
US fund sues YPF and underwriters for a misleading and untrue 2011 prospect
Argentina’s oil and gas corporation YPF, seized by the government last year, was sued by an investor who accused the company of making false statements prior to its March 2011 public offering. Read full article
Comments
Disclaimer & comment rulesit was not untrue.
Feb 06th, 2013 - 09:28 am - Link - Report abuse 0it was the truth of a criminal houswife named kristina kirchner, leader of a financial gang and president of argentina.
Invest in Argentina, doh!
Feb 06th, 2013 - 11:11 am - Link - Report abuse 0Lies and untruths, lies and untruths....
Feb 06th, 2013 - 12:04 pm - Link - Report abuse 0... next thing you know, they'll be heckling their ministers in the street.
It will be difficult for any suit to succeed given that ALL commercial entities should know that the risks to their wealth in AR are huge.
Feb 06th, 2013 - 12:08 pm - Link - Report abuse 0It goes without saying that 'investors beware' when they deal with crooks and charlatans.
Country risk calculations must make it impossible for most companies to even consider an investment in Argentina.
Feb 06th, 2013 - 12:55 pm - Link - Report abuse 0Please support this page - Falklands Forever British - dedicated to Falkland Islands current affairs, keeping the islands free and poking fun at the lunacy of the Argentine government and their various claims and winding up their Internet trolls - https://www.facebook.com/truthfk
Feb 06th, 2013 - 02:47 pm - Link - Report abuse 0Well this europeans, anglos and yanks keep proving my points over and over and over and over...
Feb 06th, 2013 - 03:27 pm - Link - Report abuse 0An American suing over “false” promises of a public offering.
These yanki muppets just never learn to shut up do they. Their hamartia.
http://businessinvestorpro.com/facebook-ipo-scam-why-facebooks-stock-was-a-scam-all-along/
Nosi the snot nosed boi, can you ever stay the course and argue in favor of the topic, or must you always run to your mommas titti for comfort and change the subject? You cannopt argue insupport of anything so you resort to deflecting, diverting like the nazi troll you are. Isn't school returning soon for you indocrinated nits? HAve you reached full lice status yet? Who gives a flying argentine about Facebook? Facebook is not the story, the story is another charge, complaint and lawsuit against the incorrigible regime shitting all over Rgentina and stealing the people blind. The only ones that do not know this are the ones too poor to feel it. Someone has a full metal jacket with asslips name on it sometime in the near future, the real Rgentines will not take it much more.
Feb 06th, 2013 - 05:49 pm - Link - Report abuse 0I find it funny that a company like YPF that was stolen, like aerolineas and the peoples hard earned dollars that use to be their pension are now being sued. I see YPF coming off the USA stock markets very soon.
TWIMC
Feb 06th, 2013 - 06:51 pm - Link - Report abuse 0Repsol-YPF, all its Spanish directors and board members are in problems because of their failure to “adequately produce oil and gas within Argentina” and reinvest a “substantial portion” of profits into operations.
Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse Group AG are in trouble too for keeping quite about the above…
http://www.bloomberg.com/news/2013-02-06/argentina-s-ypf-sued-by-u-s-investor-over-share-offering-3-.html
Everything groovy for YPF though…..
It has safely returned home, where it belongs….
Chevron has already invested billions of dollars in it…..
PDVSA is entering the billions-party pretty soon (on Chevron’s request! :-)
Share value UP ~ 70% since the hysterical low after YPF’s PROPER nationalization by the Kirchner Administration……
Don’t you believe me…… ? Check it out…… !
http://www.bloomberg.com/news/2013-02-06/argentina-s-ypf-sued-by-u-s-investor-over-share-offering-3-.html
Chuckle chuckle©
Welcome to the wonderful world of busyness, say can I sue stelco for their shares falling under the price they sold it to me for? Can I sue the weather network for not being right about the weather. We should start treating bankers and private enterprises as the criminals they all are. But taxing them 30% should be a good start. Wasn't UK built on taxing people to death? Argentina should follow the lead, there is an old say, stupid is as stupid does.
Feb 06th, 2013 - 06:57 pm - Link - Report abuse 0#8 you are a naive person, if you think CFK created the IMF theft. If you can read you might find out that she payed what others stole and never never let them take our tax money again. And for that reason you and IMF are hungry, lonely, disperate and incoherent, try again in 100 years.
Right now it sounds like you are talking about UK.
http://axisoflogic.com/artman/publish/Article_64333.shtml
Thick, you are a few days behind in the news re Chevor:
Feb 06th, 2013 - 07:28 pm - Link - Report abuse 0YPF also announced an accord with Chevron that could see the California-based company and YPF spend about $1 billion to drill 100 wells for unconventional energy in Argentina's resource-rich Neuquen Province.
If that plan works, the companies could finalize plans to drill an estimated 2,000 wells for about $15 billion in coming years. But the plan faces an important obstacle.
A $19 billion embargo on the assets of Chevron's local subsidiary, stemming from a decades-old case involving environmental damage claims in Ecuador, has raised questions about Chevron's ability to move forward in Argentina as long as the embargo is still active. Chevron has said it will use all legal means available to reverse the embargo.
I don't see Chevron dumping any U$ down that rat hole any time soon.
PDVSA..only if Chavez lives ( doubtful)
I think that o/g in Vaca Muerte will be there a very long long time.
I have a feeling Argentina won't be able to afford their LNG this year.
Expect more factories ( the ones that are left) being shut down because there is no gas. More blackouts, increased heating bills and on and on
#9 Idiot, Chevron is planning on pulling out of Rgentina is they do not retrun Chevron's assets. You can make a partnership and fuck with your partners at the same time.
Feb 06th, 2013 - 09:35 pm - Link - Report abuse 0Also all you trolls are speaking English like shit. When you get replacements, makes sure they speak at the same level or proficiency.
An Ford has not cancelled their expansion in Rgentina, but just placing it on the back burner to simmer. They are waiting to see what action the IMF takes in September. The last thing they want is money going into Rgentina and never coming out.
How come Mercopress doesn't have a story on Dilma lifting the onerous VAT from food staples? Good deal.
Feb 07th, 2013 - 05:31 am - Link - Report abuse 0@11 yes, because an American company couldn't possibly be guilty of $bil in environmental damage (Timor sea, Ecuador). That's only 'british' companies that get that honour.
Feb 07th, 2013 - 08:12 am - Link - Report abuse 0One has nothing to do with this article and technically it was not Chevron.....Texaco....but nothing will happen with YPF now. 8.50 a liter now.....just wait till the end of the summer.....and if they get all the electricity back online.
Feb 07th, 2013 - 11:10 am - Link - Report abuse 0Shed, Large international companies use the ICSID for their courts they can't use the courts in these notoriously corrupt countries they would always lose. This is why the ICSID was set up.
Feb 07th, 2013 - 01:59 pm - Link - Report abuse 0In the end Chevron will get every penny back it will take time to work through the political and judicial ( northern) systems but they'll get all back with interest.
I seem to recall that the Argentinians simply ignore ICSID rulings against them.....
Feb 07th, 2013 - 04:55 pm - Link - Report abuse 017. They are ignoring them but they won't be able to for much longer. They owe US companies U$65B in damages.
Feb 07th, 2013 - 05:06 pm - Link - Report abuse 0I think the USA will make their trading so hard and expensive they will have to settle the judgments.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!