LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors who purchased Freeport-McMoRan Inc. (“Freeport-McMoRan” or the “Company”) (NYSE: FCX) securities between February 27, 2015 and January 15, 2016, inclusive (the “Class Period”). Injured investors are encouraged to contact Lesley Portnoy of GPM at 310-201-9150 to discuss their legal rights.
On January 19, 2016, following an investigation concerning allegations of corruption and bribery between the Company and government officials to secure lucrative mining rights, the chief executive officer of the Company’s Indonesian unit, Maroef Sjamsuddin, stepped down. This news came less than a month after the chairman of Freeport-McMoRan resigned allegedly due to similar charges. Following these news reports, shares of the Company’s stock fell in value, thereby damaging investors.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (1) Sjamsuddin had discussions with senior officials in the Indonesian government about bribing Indonesian government officials in return for an extension of Freeport-McMoRan’s right to operate in the country; (2) that Freeport-McMoRan had violated the Foreign Corrupt Practices Act (“FCPA”); and (3) as a result of the foregoing, Freeport-McMoRan’s public statements were materially false and misleading at all relevant times.
If you purchased Freeport-McMoRan securities you have until March 28, 2016 to request that the Court appoint you as lead plaintiff. If you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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