ACCESS Newswire
22 Sep 2022, 23:07 GMT+10
SAN FRANCISCO, CA / ACCESSWIRE / September 22, 2022 / Hagens Berman urges GrafTech International Ltd. (NYSE:EAF) investors who suffered significant losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/EAF
Contact An Attorney Now: [email protected]
844-916-0895
GrafTech International Ltd. (NYSE:EAF) Investigation:
GrafTech is one of the world's largest suppliers of graphite electrodes used in electric-arc steelmaking, a fast-growing part of the steel industry because of its relatively low costs and more environmentally friendly setup.
The investigation focuses on GrafTech's past assurances that its graphite electrode facilities (including GrafTech, Mexico's Monterrey, Mexico facility which is reportedly responsible for about 25% of GrafTech's total production) provide unique competitive advantages and that it can continue to open up incremental capacity in Monterrey. The company has also assured investors that it minimizes its environmental footprint and that it focuses on Environmental, Social, and Governance ('ESG') initiatives.
GrafTech's assurances may have come under question on Sept. 16, 2022, when it disclosed that on Sept. 15, 2022 Mexican regulators visited the Monterrey facility to review the facility's environmental and operating permits, instructed the facility to wind down operations within 7 days, and determined that GrafTech Mexico's operating license was no longer in effect.
This news sent the price of GrafTech shares down more than 8% lower on Sept. 19, 2022, wiping out over $100 million of shareholder value.
'We're focused on investors' losses and whether GrafTech misrepresented its ability to produce more product in Monterrey and its ESG policies and procedures,' said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in GrafTech and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding GrafTech should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
Get a daily dose of Cleveland Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cleveland Star.
More InformationNEW YORK, New York - U.S. stocks rallied hard on Friday, boosted by strong rises around the world. Investors shrugged off a decline...
MILAN, Italy: Maserati has scrapped plans for an electric version of its MC20 sports car, citing low expected demand for the high-performance...
BERLIN, Germany: Volkswagen is set to cut 1,600 jobs at its Cariad software division by the end of the year, affecting nearly 30 percent...
The principal terminal, Terminal 1, at Israel's largest airport will reopen at the end of this month, having largely been closed since...
NEW YORK, New York - The knee-jerk introduction of trade tariffs by President Donald Trump continues to rattle markets with all the...
FRANKFURT, Germany: Ford announced this week that it will inject up to $4.8 billion into its struggling German unit to stabilize its...
SIOUX FALLS, South Dakota: A new South Dakota law banning the use of eminent domain for carbon capture pipelines has cast doubt on...
WASHINGTON, D.C.: The U.S. weather agency, NOAA, plans to lay off 1,029 workers following 1,300 job cuts earlier this year. This...
WASHINGTON, D.C.: The U.S. Energy Department estimates it will take US$20 billion and several years to refill the Strategic Petroleum...
(Photo credit: Katie Stratman-Imagn Images) Charlotte FC will try to rebound from a frustrating defeat when they host an FC Cincinnati...
(Photo credit: Wendell Cruz-Imagn Images) The New York Rangers visit the Columbus Blue Jackets Saturday night in a matchup of teams...
(Photo credit: Jayne Kamin-Oncea-Imagn Images) Former Los Angeles Rams receiver Cooper Kupp agreed to a three-year, $45 million deal...