NEW YORK, NY / ACCESSWIRE / March 9, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Methanex Corporation ("Hesai" or the "Company") (NASDAQ:MEOH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Methanex and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 20, 2024, Methanex issued a press release "announc[ing] . . . that commercial production of its new 1.8 million tonne methanol plant, Geismar 3 (G3), in Geismar, Louisiana has been delayed due to complications that occurred in the autothermal reformer (ATR) during the late stages of the initial start-up process." Methanex stated that significant damage was sustained to a large number of supporting refractory bricks in the vessel which will require replacement, causing commercial production to be delayed up to the end of the third quarter of 2024.
On this news, Methanex's stock price fell $5.08 per share, or 10.8%, to close at $41.97 per share on February 20, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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