Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Freeport-McMoRan Inc. to Contact B...
February 08 2016 - 8:00PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Arizona on behalf of purchasers of Freeport-McMoRan, Inc.
(NYSE:FCX) (“Freeport” or the “Company”) securities during the
period between February 27, 2015 and January 15, 2016, inclusive
(the “Class Period”). Investors with losses in excess of
$100,000 who wish to become proactively involved in the litigation
have until March 28, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in
Freeport securities purchased on or after February 27, 2015 and
held through the revelation of negative information during and/or
at the end of the Class Period, as described below, and would like
to learn more about this lawsuit and your ability to participate as
a lead plaintiff, without cost or obligation to you, please visit
our website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company securities during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that Maroef
Sjamsuddin (“Sjamsuddin”) had discussed, with senior officials in
the Indonesian government, bribing Indonesian government officials
in return for an extension of Freeport’s right to operate in the
country and that Freeport had violated the Foreign Corrupt
Practices Act.
According to the complaint, following a November
25, 2015 publication of an interview with Setya Novanto (“Novanto”)
concerning the probe into Novanto’s dealings with Freeport
Indonesia in which it was revealed that Novanto believed
Sjamsuddin had attempted to “blackmail” and “entrap” him, the
December 28, 2015 resignation of James Moffett from his position as
Executive Chairman of Freeport and the January 19, 2016
announcement of the resignation of Sjamsuddin, the value of Feeport
shares declined significantly.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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