LOS ANGELES, CA / ACCESSWIRE / November 22, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Compass Minerals International, Inc. ("Compass" or "the Company") (NYSE:CMP) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between October 31, 2017 and November 18, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before December 20, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Compass is the subject of an SEC announcement issued on September 23, 2022, which stated that the Company was ordered to pay $12 million to settle charges related to "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." 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 that the Company's statements "were misleading because they failed to tell investors that costs at the mine were increasing rather than decreasing, which substantially undermined the projected savings." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Compass, investors suffered damages.
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SOURCE: The Schall Law Firm