ROSEN, A HIGHLY RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Venator Materials PLC; Investors with Losses in Excess of $100K Are Encouraged to Contact the Firm – VNTR
To join the Venator class action, go to http://www.rosenlegal.com/cases-register-1641.html or call Phillip Kim, Esq.
NEW YORK, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Venator Materials PLC (NYSE: VNTR): (a) from August 2, 2017 through October 29, 2018, inclusive (the “Class Period”).; (b) in or traceable to Venator’s initial public offering of ordinary shares conducted on or around August 3, 2017; and (c) in or traceable to Venator’s secondary public offering of ordinary shares conducted on or around December 4, 2017. The lawsuit seeks to recover damages for Venator investors under the federal securities laws.
To join the Venator class action, go to http://www.rosenlegal.com/cases-register-1641.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the fire damage at Venator’s Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (2) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company’s insurance policy; (3) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (4) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; (5) the Company’s reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%; (6) as a result, Venator would incur over $600 million in restructuring expense and additional charges associated with the closure and replacement of the Pori facility; and (7) as a result of the foregoing, defendants’ positive statements about Venator’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1641.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com