| COMPANY |
GrafTech International Ltd. |
| COURT |
United States District Court for the Northern District of Ohio |
| CASE NUMBER |
24-cv-00154 |
| JUDGE |
The Hon. Donald C. Nugent |
| CLASS PERIOD |
February 8, 2019 through August 3, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired GrafTech International Ltd. (“GrafTech”) (NYSE: EAF) common stock between February 8, 2019 and August 3, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) GrafTech’s manufacturing operations in Monterrey had for decades chronically contaminated neighboring communities with harmful carcinogenic gasses and particulate matter; (2) 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; (3) 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; (4) GrafTech’s operations in Monterrey were not in compliance with applicable environmental laws and regulations; (5) 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; (6) 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; (7) 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; (8) GrafTech’s capital expenditures and/or related operational projects were woefully insufficient to adequately address the harm that GrafTech’s operations in Monterrey had inflicted on the environment and people within the neighboring communities; (9) in light of the foregoing, GrafTech was acutely exposed to undisclosed material risks that GrafTech’s manufacturing operations in Monterrey would be severely disrupted by government action or enforcement; and (10) as a result, 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.
Current Status of Case:
On October 7, 2024, Lead Plaintiff filed a First Amended Complaint. On December 6, 2024, Defendants filed Motions to Dismiss the First Amended Complaint . The Motions are currently being briefed by the parties. The action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.