Press release
Investigation announced for Investors in shares of GrafTech International Ltd. (NYSE: EAF)
An investigation for investors in GrafTech International Ltd. (NYSE: EAF) shares over potential securities laws violations.
Investors who purchased shares of GrafTech International Ltd. (NYSE: EAF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by GrafTech International Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Brooklyn Heights, OH based GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. GrafTech International Ltd. reported that its annual Total Revenue declined from over $1.34 billion in 2021 to over $1.28 billion in 2022 and that its Net Income declined from $388.33 million in 2021 to $3812.96 million in 2022.
On September 19, 2022, GrafTech International Ltd. announced that Mexican authorities suspended operations at its facilities in Monterrey, Mexico, and determined that its operating license within the country was no longer in effect. The suspension related "procedural errors related to certain operating licenses and permits."
On November 4, 2022, GrafTech International Ltd. held an earnings conference call during which management addressed the Monterrey closing. Specifically, management stated that "unless Monterrey reopens, our business performance will be significantly impacted for the first two quarters of 2023 with a reduction in sales volume of 50% or more before recovering the in the back half of the year."
Then on November 18, 2022, GrafTech International Ltd. announced the conditional lifting of the temporary suspension notice related to the Company's operations. The announcement explained that the Company "will provide an update on estimated impact of the suspension on its 2023 outlook when it reports its fourth quarter 2022 results."
On February 3, 2023, GrafTech International Ltd. issued its first quarter results and hosted an earnings call. Therein, management clarified that "we estimate our sales volume for the first six months of this year will be approximately half of the level we reported in 2022."
Shares of GrafTech International Ltd. (NYSE: EAF) declined from $6.74 per share on February 02, 2023 to as low as $2.20 per share on November 10, 2023.
Those who purchased shares of GrafTech International Ltd. (NYSE: EAF) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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