TX - Italian court tosses case against Ternium chairman board members

Ternium (NYSE:TX) said on Thursday that an Italian court dismissed the case against Chairman Paolo Rocca and two other board members over alleged improper payments. The court was overseeing an investigation by the public prosecutor into allegedly improper payments made in Brazil prior to 2014 for the supposed benefit of an affiliate of the company, but the company said the case was dismissed for lack of jurisdiction. Ternium (TX) shares rose 4% in Thursday's trading amid strong gains in the broader steel sector. Ternium (TX) offers significant upside from Latin American growth tailwinds and higher steel prices, Stocks Telegraph writes in a bullish analysis posted recently on Seeking Alpha.

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Italian court tosses case against Ternium chairman, board members