RESERVOIR MINERALS INC V.RMC

Good God....

[thorgb1]

Now the ambulance chasers are after FCX.......

NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Freeport-McMoRan Inc. ("Freeport-McMoRan" or "the Company") (NYSE: FCX). Such investors are advised to contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz at [e-mail] or 212-697-6484.

This investigation concerns whether Freeport-McMoRan and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the "Exchange Act"). 

On Tuesday, January 19, 2016, Freeport McMoRan's Indonesian unit's chief executive officer, Maroef Sjamsuddin, resigned, less than a month after the chairman of the U.S. mining giant stepped down. Reuters reported his resignation to be for "personal reasons". This new follows an inquiry into the Indonesian parliamentary speaker spearheaded by Sjamsuddin. The investigation ended up forcing the speaker to leave office in December 2015 amid corruption allegations. This matter is still being investigated by the attorney general's office.

Following this news, on January 19, 2016 during intraday trading, Freeport-McMoRan stock fell as much as $0.39 per share, or 8.97%, to $3.96, a new 5 year low.

If you are aware of any facts relating to this investigation, or purchased shares of Freeport-McMoRan, you can assist this investigation by visiting the firm's website: https://www.bgandg.com/#!fcx/g2t7h. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [e-mail].  Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz 
212-697-6484 | [e-mail]

Read more at https://www.stockhouse.com/news/press-releases/2016/01/20/shareholder-alert-bronstein-gewirtz-grossman-llc-announces-investigation-of#6sFR17Hvj0x5gsV8.99

[Meester954]

This is pretty typical stuff in the US.  There is D&O and E&O insurance in place for these types of things.  It may serve as a minor distraction for management, but this is the least of FCX's concerns.

[thorgb1]

Yeah, it was kind of a joke, though interesting to note there was a second "investigation"  announced this morning.....another blood bath on the markets this morning.  NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Freeport-McMoRan, Inc. ("Freeport-McMoRan" or the "Company") (NYSE: FCX). &

[rob926]

Another bad blow to Freeport today. If they are forced to sell the discovery without delivering the BFS I think they can only sell 55% not the 75% they could earn. What are your thoughts Thorgb1? Reuters reported earlier that Indonesia's government has ordered FCX to set aside an additional $530M to extend its permit to export copper concentrate; the amount would add to an estimated

[cd673]

A deal could be cut in an infinite variety of ways for any stake and on any particular terms new or old. The key point is whatever Freeport puts on the table gives reservoir an opportunity to match that deal. So I would think ideally they would be friendly discussions involving all the parties if something was to happen and it would be smart for reservoir to have some silent money in the wings as

[rob926]

I hope that at whateever deal Freeport tries to make that they can only do it with 55% interest. That would give us almost double our value in the discovery. Now that it is a known big discovery we should be able to negociate a great deal with another big player unlike when we negociated wirth Freeport before the discovery was made. Some kind of deal like partnering up with Rio since they are