New York, New York--(Newsfile Corp. - May 1, 2024) - Pomerantz LLP announces that a class action lawsuit has been filed against Compass Minerals International, Inc. ("Compass" or the "Company") (NYSE: CMP). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Compass and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until June 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Compass securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On March 25, 2024, before the market opened, Compass issued a press release entitled "Compass Minerals Announces the Company Will Not Secure a USFS Contract to Supply Magnesium Chloride-Based Aerial Fire Retardants for the 2024 Fire Season." The press release explained that "during scheduled winter airtanker inspections as part of the [U.S. Forest Service's] Integrated Operational Field Evaluation, it was discovered that certain airtankers that had flown Fortress North America's (Fortress') proprietary, magnesium chloride-based aerial fire retardants revealed significant signs of corrosion in areas where build-up of the retardant had occurred" and that "[t]he findings from this more extensive inspection raised aircraft safety concerns, prompting the USFS' decision to inform Compass Minerals on March 22, 2024, that it would be 'unable to define the scope and associated terms and conditions of a new contract' with the [C]ompany until the National Transportation Safety Board (NTSB) and National Institute of Standards and Technology (NIST) conducted a coordinated, independent assessment of the findings."
On this news, Compass's stock price fell $3.00 per share, or 17.09%, to close at $14.55 per share on March 25, 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.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207653
