GrafTech – Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against GrafTech International Ltd. (“GrafTech” or “the Company”) (NASDAQ: EAF) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired Instacart securities from February 8, 2019 through August 3, 2023 (the “Class Period”). Investors who acquired GrafTech securities during this defined timeframe are strongly encouraged to participate in this case by contacting firstname.lastname@example.org. The deadline to file a motion for appointment of lead plaintiff is March 25, 2024.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased GrafTech securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST GRAFTECH
The GrafTech class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) GrafTech’s manufacturing operations in Monterrey, Mexico had for decades chronically contaminated neighboring communities with harmful carcinogenic gasses and particulate matter; (ii) 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; (iii) 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; (iv) GrafTech’s operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations; (v) 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 Len; (vi) the government of Apodaca had sought intervention from the State of Nuevo Len authorities to curtail and prevent the adverse environmental impacts and noncompliance with environmental laws and regulations caused by the Monterrey facility; (vii) 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; (viii) 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; (ix) 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 (x) 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.
- GrafTech International Ltd. produces graphite electrodes and petroleum coke, crucial components in the manufacturing of electric arc furnace steel and various other metals.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in GrafTech during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is March 25, 2024. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.