WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing investors nationwide, is investigating potential securities fraud claims against Freeport-McMoRan Inc. (NYSE:FCX) (“FCX” or the “Company”) in connection with the Company’s November 14, 2014, Notes Offering.
On November 10, 2014, FCX announced the sale of $3.0 billion of senior notes: $750 Million of 2.30% Senior Notes Due November 14, 2017 (CUSIP: 35671DBK0); $600 Million of 4.00% Senior Notes Due November 14, 2021 (CUSIP: 35671DBH7); $850 Million of 4.55% Senior Notes Million Due November 14, 2024 (CUSIP: 35671DBL8); and $800 Million of 5.40% Senior Notes Due November 14, 2034 (CUSIP: 35671DBJ3).
On January 27, 2015, the Company recorded a roughly $5.4 billion impairment charge on goodwill and the value of its oil and gas properties. The Company also announced that it was cutting its capital expenditure budget by $2 billion. As a result of the foregoing news, the price of all four notes has declined causing note holders to incur millions in losses. Andrews & Springer LLC is investigating whether FCX omitted material information and made misleading statements in connection with its Notes Offering.
If you bought or sold any of the above mentioned notes and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/FCX or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing investors and shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice constitutes Attorney Advertising.