Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises GrafTech International Ltd. (NYSE: EAF) investors that a lawsuit was filed on behalf of investors that purchased GrafTech securities between February 8, 2019 and August 3, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
GrafTech International Ltd. (EAF) is facing allegations of misleading investors about the environmental impact of its business operations. The complaint claims that during the class period, the company and its defendants failed to disclose several crucial pieces of information:
GrafTech's manufacturing operations in Monterrey, Mexico had been causing chronic contamination in nearby communities with harmful carcinogenic gases and particulate matter for decades.
The company had made agreements with local authorities to improve the environmental performance of its Monterrey facility but consistently failed to fulfill these commitments.
GrafTech had been warned repeatedly over approximately 30 years about its disregard for the environment and the health and well-being of people near its Monterrey operations.
The Monterrey facility was not in compliance with applicable environmental laws and regulations.
The company had inadequately addressed environmental problems caused by the Monterrey facility following a 2019 administrative proceeding by the Department of Sustainable Development of the State of Nuevo León.
The government of Apodaca sought intervention from the State of Nuevo León authorities to address environmental impacts and noncompliance caused by the Monterrey facility.
GrafTech's purported cost leadership was achieved, in part, by neglecting to implement effective environmental safeguards at its Monterrey facility.
The company's capital expenditures and operational projects were insufficient to address the harm inflicted on the environment and communities near the Monterrey facility.
As a result of these issues, GrafTech faced undisclosed material risks related to potential government actions or enforcement that could disrupt its manufacturing operations in Monterrey, Mexico.
GrafTech was also exposed to undisclosed material risks concerning the withdrawal or significant reduction of its supplies of pin stock and graphite electrodes, which could harm the company's business, operations, reputation, and financial results.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
