NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) — Lawyer Announcement – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against GrafTech International Ltd. (“GrafTech” or the “Company”) (NYSE: EAF) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired GrafTech securities between February 8, 2019 and August 23, 2023, inclusive (the “Class Period”). ). These investors are encouraged to join this case by visiting the company’s website: bgandg.com/EAF.
The Complaint alleges that throughout the Class Period, GrafTech made false and/or misleading statements and/or failed to disclose that:
(1) For decades, GrafTech’s manufacturing operations in Monterrey, Mexico have chronically polluted nearby communities with harmful carcinogenic gases and particulate matter;
(2) GrafTech signed agreements with local authorities obligating it to improve the environmental performance of its Monterrey facility, but repeatedly failed to meet these obligations;
(3) GrafTech has been warned repeatedly over nearly 30 years about its willful disregard for the environment and the health and well-being of people near its operations in Monterrey, Mexico;
(4) GrafTech’s operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations;
(5) GrafTech failed to adequately address environmental issues caused by the Monterrey facility following the 2019 administrative action conducted by the Nuevo León Department of Sustainable Development;
(6) The Government of Apodaca requested intervention from Nuevo León State authorities to limit and prevent adverse environmental impacts and non-compliance with environmental laws and regulations resulting from the Monterrey facility;
(7) GrafTech’s alleged cost leadership was achieved largely through failure to implement appropriate and effective environmental safeguards at its manufacturing facility in Monterrey, Mexico;
(8) GrafTech’s capital expenditures and/or related operational projects were grossly inadequate to adequately address the harm caused by GrafTech’s operations in Monterrey, Mexico to the environment and people within neighboring communities;
(9) As a result of the above, GrafTech has been exposed to material undisclosed risks that GrafTech’s manufacturing operations in Monterrey, Mexico will be severely disrupted by governmental action or enforcement; And
(10) As a result of the above, GrafTech has been exposed to an acute, undisclosed material risk that its supply of pin and graphite electrode inventory will be withdrawn and/or materially curtailed, resulting in material harm to GrafTech’s business, operations, reputation and financial results.
A class action lawsuit has already been filed. If you would like to review a copy of the complaint, you can visit the company’s website: bgandg.com/EAF Or you may contact Peretz Bronstein, Esq. Or our law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffer a loss in GrafTech, you have until March 25, 2024 to ask the court to appoint you as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff.
There is no cost to you
We represent investors in class actions on a contingency fee basis. This means that we will ask the court to reimburse us for out-of-pocket expenses and attorney fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Goertz and Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud and shareholder derivative litigation. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Bronstein, Goertz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
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