To avoid responding to a lawsuit, a New York judge declared Ternium "in default".

A judge in New York declared Ternium – the steel producer of the Techint group – a "legal default" for failing to respond to a shareholder request it started in the United States and is linked to the case of "corruption notebooks", where Paolo Rocca, chairman of the group, was prosecuted.

In the court decision, which corresponds to the New York East District Court, it is provided that shareholders have the right to recover a debt if a formal claim is made and the company Ternium should react after having taken note of the decision.

On behalf of the company, they said they would not commit a "legal breach", but the court's announcement simply noted that Ternium had not responded to a Applicant's appeal. "This was true because Ternium had agreed with the plaintiff in February 2019 that Ternium would not respond and that the plaintiff would not seek a breach of the law because the plaintiff intended to file an amended appeal, possibly May 2019, and Ternium would respond to this modified resource in due time, "they warned.

"Ternium has several lawsuits in the United States in the case of laptops, as well as other companies such as Loma Negra, which are clbad actions that present to shareholders they benefit from seeing that the action has lost a lot of price to sue the company to link it to a case of corruption. This with regard to the actions is a reason for fraud and legal action, "said Sebastián Maril, director of Finguru, specializing in the surveillance of Argentine companies listed abroad.

Depending on the failure, the "delay" or The deadline for Ternium's appearance to respond to the complaint expired on February 20 past The amount of compensation claimed by the shareholders of the company at the origin of the dispute is not yet known.