NEW YORK, NY / ACCESSWIRE / September 28, 2022 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Compass Minerals International, Inc. ("Compass" or the "Company") (NYSE:CMP). Investors who purchased Compass securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/cmp.
The investigation concerns whether Compass has violated federal securities laws.
On September 23, 2022, the U.S. Securities and Exchange Commission ("SEC") announced that Compass was ordered to pay $12 million to settle charges "for misleading investors about a technology upgrade that the company claimed would reduce costs at its most significant mine, but in reality, had increased costs, and for failing to properly assess whether to disclose the financial risks created by the company's excessive discharge of mercury in Brazil." Specifically, according to the SEC, "Compass repeatedly assured investors in 2017 that a technology upgrade at its Goderich mine - the world's largest underground salt mine which is located near Ontario, Canada and hailed by the company as its crown jewel - was on track to materially reduce costs and boost its operating results starting in 2018," but these statements by Compass "were misleading because they failed to tell investors that costs at the mine were increasing rather than decreasing, which substantially undermined the projected savings." Further, the SEC found that "Compass misled investors by overstating the amount of salt it was able to product at Goderich." On this news, Compass's stock price fell sharply, damaging investors.
If you are aware of any facts relating to this investigation or purchasedCompass shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/cmp. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC