GrafTech International Ltd. (NYSE: EAF)
NEW YORK, NY – January 30, 2024 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a class action lawsuit has been filed against GrafTech International Ltd. (“GrafTech” or the “Company”) (NYSE: EAF) in the United States District Court for the Northern District of Ohio on behalf of all persons and entities who purchased or otherwise acquired GrafTech common stock between February 8, 2019 and August 3, 2023, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than March 25, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
The filed complaint alleges that defendants throughout the Class Period 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;
- 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;
- 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;
- GrafTech’s operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations;
- 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;
- 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;
- 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;
- 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;
- 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
- 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.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 02/22/2024