| COMPANY |
Compass Minerals International Inc. |
| COURT |
United States District Court for the District of Kansas |
| CASE NUMBER |
24-cv-02165 |
| JUDGE |
The Hon. Eric F. Melgren |
| CLASS PERIOD |
November 29, 2023 through March 22, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS JUNE 24, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Compass Minerals International Inc. (“Compass”) (NASDAQ: CMP) securities between November 29, 2023 and March 22, 2024, both dates inclusive (the “Class Period”).
On March 25, 2024, Compass Minerals disclosed that it had been informed by the United States Forest Service ("USFS") that it will not be entering into a contract for the use of magnesium chloride-based aerial fire retardants for the 2024 fire season, explaining that USFS inspections found that “certain airtankers that had flown Fortress North America's proprietary, magnesium chloride-based aerial fire retardants revealed significant signs of corrosion in areas where build-up of the retardant had occurred" and that "[t]he findings from this more extensive inspection raised aircraft safety concerns.”
On this news, Compass Minerals’ s stock price fell $3.00, or 17.1%, to close at $14.55 per share on March 25, 2024.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Compass Minerals overstated the likelihood that it would be awarded a renewed U.S. Forest Service contract for the use of its proprietary magnesium chloride-based aerial fire retardants for the 2024 fire season, as a result of safety issues presented by its fire retardant; (2) Compass Minerals materially overstated the extent to which testing had confirmed that its fire retardants were safe; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.