Securities class action lawsuit filed against Tenaris S.A.

New York-based Scott+Scott Attorneys at Law LLP is notifying investors that a class action lawsuit has been filed against steel pipe products manufacturer and supplier Tenaris S.A. and certain of its officers and directors, related to alleged violations of federal securities laws.

The lawsuit alleges that defendants made false or misleading statements or failed to disclose that Tenaris’ CEO and Chairman Paolo Rocca knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Sidor; that this conduct would lead to Rocca being charged in a graft scheme, and subject Tenaris, its affiliates, and executives to heightened governmental scrutiny; and that, as a result, Tenaris’ public statements were materially false or misleading at all relevant times.