NEW YORK, Sept. 26, 2022 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) investigates claims on behalf of investors of Compass Minerals International, Inc. (“Compass” or the “Company”) CMP.
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On September 23, 2022, the Securities and Exchange Commission announced that Compass was ordered to pay $12 million to settle charges “for misleading investors over a technology upgrade that the company claimed would cover the cost.” at its flagship mine, but actually increased costs and for failing to properly assess whether to disclose the financial risks created by the company’s excessive release of mercury in Brazil.” According to the SEC, “Compass Investors in 2017 reiterated that a technology upgrade at its Goderich Mine — the world’s largest underground salt mine, located near Ontario, Canada and hailed by the company as its crown jewel — was on track as of 2018’s cost significantly and increase operating results”, but these statements by Compass “were misleading because si e failed to communicate to investors that costs at the mine were increasing rather than decreasing, significantly undermining projected savings.” Additionally, the SEC found that “Compass misled investors by exaggerating the amount of salt it could produce at Goderich.”
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Read full story here https://www.benzinga.com/pressreleases/22/09/g29010613/compass-minerals-investor-alert-kaplan-fox-investigates-compass-minerals-international-inc