NEW YORK, NY / ACCESSWIRE / September 24, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Venator Materials PLC ("Venator" or the Company") (NYSE:VNTR) and certain of its officers, on behalf of shareholders who purchased Venator securities: (1) from August 2, 2017 through October 29, 2018, inclusive (the "Class Period"); (2) in or traceable to Venator's initial public offering of ordinary shares conducted on or around August 3, 2017; and (3) in or traceable to Venator's secondary public offering of ordinary shares conducted on or around December 4, 2017. Such investors are encouraged to join this case by visiting the firm's site:www.bgandg.com/vntr.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under Federal Securities Laws.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the fire damage at Venator's Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (2) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company's insurance policy; (3) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (4) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; (5) the Company's reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%; (6) Venator would incur over $600 million in restructuring expense and additional charges associated with the closure and replacement of the Pori facility; and (7) as a result of the foregoing, defendants' positive statements about Venator's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/vntr or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Venator you have until September 30, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC