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Investigation announced for Investors in GrafTech International Ltd. (NYSE: EAF) over potential Wrongdoing

06-19-2024 06:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in GrafTech International Ltd. (NYSE: EAF) shares.

An investigation on behalf of current long term investors in GrafTech International Ltd. (NYSE: EAF) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of GrafTech International Ltd.

Investors who are current long term investors in GrafTech International Ltd. (NYSE: EAF) shares, 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 for current long term investors in NYSE: EAF stocks follows a lawsuit filed against GrafTech International Ltd. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: EAF stocks, concerns whether certain GrafTech International directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of Ohio the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that GrafTech's manufacturing operations in Monterrey, Mexico had for decades chronically contaminated neighboring communities with harmful carcinogenic gasses and particulate matter, that GrafTech had signed agreements with local authorities committing itself to improving the environmental performance of its Monterrey facility, but repeatedly failed to honor these commitments, that GrafTech had been repeatedly warned over an approximately 30-year period regarding its wanton disregard for the environment and health and well-being of people near its operations in Monterrey, Mexico, that GrafTech's operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations, that GrafTech had failed to adequately remediate the environmental problems caused by the Monterrey facility following the 2019 administrative proceeding conducted by the Department of Sustainable Development of the State of Nuevo León, that the government of Apodaca had sought intervention from the State of Nuevo León authorities to curtail and prevent the adverse environmental impacts and noncompliance with environmental laws and regulations caused by the Monterrey facility, that GrafTech's purported cost leadership was achieved in substantial part by failing to implement appropriate and effective environmental safeguards at its manufacturing facility in Monterrey, Mexico, that GrafTech's capital expenditures and/or related operational projects were woefully insufficient to adequately address the harm that GrafTech's operations in Monterrey, Mexico had inflicted on the environment and people within the neighboring communities, that as a result of the above, GrafTech was acutely exposed to undisclosed material risks that GrafTech's manufacturing operations in Monterrey, Mexico would be severely disrupted by government action or enforcement; and that as a result of the above, GrafTech was acutely exposed to undisclosed material risks that its supplies of pin stock and graphite electrodes would be withdrawn and/or materially diminished, thereby materially harming GrafTech's business, operations, reputation, and financial results.

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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