GrafTech
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
GrafTech International Ltd. (EAF) is facing allegations of misleading investors about the environmental impact of its business operations. The complaint claims that during the class period, the company and its defendants failed to disclose several crucial pieces of information:
- GrafTech’s manufacturing operations in Monterrey, Mexico had been causing chronic contamination in nearby communities with harmful carcinogenic gases and particulate matter for decades.
- The company had made agreements with local authorities to improve the environmental performance of its Monterrey facility but consistently failed to fulfill these commitments.
- GrafTech had been warned repeatedly over approximately 30 years about its disregard for the environment and the health and well-being of people near its Monterrey operations.
- The Monterrey facility was not in compliance with applicable environmental laws and regulations.
- The company had inadequately addressed environmental problems caused by the Monterrey facility following a 2019 administrative proceeding by the Department of Sustainable Development of the State of Nuevo León.
- The government of Apodaca sought intervention from the State of Nuevo León authorities to address environmental impacts and noncompliance caused by the Monterrey facility.
- GrafTech’s purported cost leadership was achieved, in part, by neglecting to implement effective environmental safeguards at its Monterrey facility.
- The company’s capital expenditures and operational projects were insufficient to address the harm inflicted on the environment and communities near the Monterrey facility.
- As a result of these issues, GrafTech faced undisclosed material risks related to potential government actions or enforcement that could disrupt its manufacturing operations in Monterrey, Mexico.
- GrafTech was also exposed to undisclosed material risks concerning the withdrawal or significant reduction of its supplies of pin stock and graphite electrodes, which could harm the company’s business, operations, reputation, and financial results.
