GrafTech International Ltd. (NYSE: EAF) Investor Alert: Deadline in Lawsuit on March 25, 2024

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The lawsuit filed on behalf of some investors in GrafTech International Ltd. (NYSE: EAF) against the company’s alleged violations of securities laws is set to expire on March 25, 2024.

There are severe and short deadlines for investors who bought GrafTech International Ltd. (NYSE: EAF) shares, and they have certain options. Priority date: March 25, 2024. NYSE: EAF stockholders may reach out to the Shareholders Foundation by phone at (858) 779-1554 or via email at [email protected].

The plaintiff claims that the defendants violated federal securities laws on behalf of buyers of GrafTech International Ltd. (NYSE: EAF) common shares between February 8, 2019 and August 3, 2023 in a complaint filed in the U.S. District Court for the Northern District of Ohio. More specifically, the plaintiff claims that between February 8, 2019 and August 3, 2023,, 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 Le n, that the government of Apodaca had sought intervention from the State of Nuevo Le n 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.

GrafTech International Ltd. is a Brooklyn Heights, Ohio-based company that conducts research, develops, produces, and markets graphite and carbon-based products globally. According to GrafTech International Ltd., the company’s yearly Net Income decreased from $388.33 million in 2021 to $3812.96 million in 2022, while its Total Revenue decreased from over $1.34 billion in 2021 to over $1.28 billion in 2022.

GrafTech International Ltd. declared on September 19, 2022, that activities at its Monterrey, Mexico, facilities had been suspended by Mexican authorities, who also concluded that the company’s operating license was no longer valid within the nation. Procedural irregularities pertaining to specific operational licenses and permits were the reason for the suspension.

GrafTech International Ltd. conducted an earnings conference call on November 4, 2022, whereby the management provided updates on the Monterrey closure. In particular, management warned that our business performance would suffer greatly in the first two quarters of 2023 if Monterrey doesn’t reopen. Sales volume would drop by at least 50% during this time, with recovery expected in the second half of the year.

GrafTech International Ltd. then declared on November 18, 2022, that the notice of temporary suspension pertaining to the Company’s operations will be conditionally lifted. According to the notice, the company will present its fourth quarter 2022 results along with an update on the projected impact of the suspension on its 2023 forecast.GrafTech International Ltd. held an earnings call and released its first quarter results on February 3, 2023. In that document, management made it clear that they anticipate their sales volume for the first half of this year will be roughly half of what they recorded in 2022.

On February 02, 2023, GrafTech International Ltd. (NYSE: EAF) shares were trading for $6.74 a share; on November 10, 2023, they were trading for as little as $2.20.

Shareholders Foundation should be contacted by those who bought GrafTech International Ltd. (NYSE: EAF) shares. They have specific alternatives.

Get in touch with Investors Foundation, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.

About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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