YPF was sued in New York by a fund of workers

Argentina, February 6, 2013

In Michigan, USA, a pension fund for workers in the Monroe County sued YPF in the courts of New York claiming that they did not advised of the nationalization of the company in a public offering launched on the NYSE. According to official sources the cause goes back to 2011, in an offering of shares that the company had made in March.

In the case, the plaintiffs allege that the prospectus filed with the Securities Exchange Commission (SEC), the SEC U.S.) – did not indicate of a potential risk of nationalization of the company, according to DyN news agency.

The lawsuit is aimed at managers of YPF, Repsol and against banks who served as underwriters of shares including the Credit Suisse Group AG, Goldman Sachs Group and Morgan Stanley.