The Pomerantz law firm is investigating claims

The Pomerantz law firm is investigating claims


NEW YORK, Oct. 15, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Compass Minerals International, Inc. (“Compass” or the “Company”) (NYSE: CMP). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Compass and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On September 23, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced that Compass was ordered to pay $12 million to “pay misleading investors about a technology upgrade the company claimed it would reduce costs at its flagship mine. but in fact had increased costs, and for failing to properly assess whether to disclose the financial risks arising from the company’s excessive release of mercury in Brazil.” According to the SEC, “Compass insured 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 — is on track as of 2018 to significantly reduce costs and increase operating results,” but these Compass statements “were misleading because they failed to tell investors that costs at the mine were increasing rather than decreasing, significantly undermining projected savings.” In addition, the SEC noted that ” Compass misled investors by overstating the amount of salt it produces at Goderich and could”. As a result of this news, Compass’s share price fell sharply, hurting investors.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is one of the leading law firms in the areas of corporate, securities and antitrust law.

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