Posted on the 08-05-2019
The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Venator Materials PLC and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm!!!
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Venator Materials PLC (“Venator” or “the Company”) (NYSE: VNTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 2, 2017 and October 29, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before September 30, 2019.
According to the Complaint, the Company made false and misleading statements to the market. Venator’s Pori facility suffered a fire that damaged the property much worse than was disclosed to investors, leaving it beyond repair. The cost of the fire exceeded $1 billion, far beyond the limits of the Company’s insurance policy. The Company incurred massive fees in a futile effort to expedite repairs to the facility. Venator lost about 80% of the production capacity of the Pori facility. At the same time, the Company’s reported annual Titanium Dioxide production capacity had been inflated by about 15%. The Company paid over $600 million in restructuring charges and expenses associated with the closure and replacement of the Pori facility. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Venator, investors suffered ...
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