BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Chemical and Mining Company of Chile, Inc. (“Chemical and Mining Company of Chile” or the “Company”) (NYSE:SQM) concerning possible violations of federal securities laws. Chemical and Mining Company of Chile is engaged in the production and distribution of specialty plant nutrients, industrial chemicals, and other commodity fertilizers.
The investigation is related to a March 17, 2015, Reuters report that the Company has fired its chief executive after it “became embroiled in an election campaign financing scandal.”
According to Reuters, Chilean authorities are investigating whether money from Chemical and Mining Company of Chile and other companies “was channeled illicitly to electoral campaigns for the Independent Democratic Union (UDI), Chile’s biggest conservative party.”
On March 18, 2015, Reuters reported that three representatives on the Company’s board, from Canadian stakeholder Potash Corp, “resigned on Tuesday evening in the midst of a campaign financing scandal that has shaken the Chilean establishment.” Following this news, Chemical and Mining Company of Chile shares fell more than 15%, or $3.45 per share, to a closing price of $18.65 on March 18, 2015.
If you purchased Chemical and Mining Company of Chile securities, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.