NEW YORK, NY / ACCESSWIRE / September 29, 2022 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Compass Minerals International, Inc. ("Compass Minerals" or the "Company") (NYSE:CMP).
If you suffered losses exceeding $50,000 investing in Compass Minerals stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: http://www.faruqilaw.com/CMP.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
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.
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SOURCE: Faruqi & Faruqi, LLP