The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Compass Minerals International, Inc. (CMP) Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Compass Minerals International, Inc. (“Compass” or the “Company”) (NYSE: CMP) securities between November 29, 2023 and March 22, 2024, inclusive (the “Class Period”). Compass investors have until June 24, 2024 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On March 25, 2024, Compass disclosed that it had been informed by the United States Forest Service ("USFS") that it will not be entering into a contract for the use of magnesium chloride-based aerial fire retardants for the 2024 fire season, explaining that USFS inspections found that “certain airtankers that had flown Fortress North America's proprietary, magnesium chloride-based aerial fire retardants revealed significant signs of corrosion in areas where build-up of the retardant had occurred" and that "[t]he findings from this more extensive inspection raised aircraft safety concerns.”

On this news, Compass’s stock price fell $3.00, or 17.1%, to close at $14.55 per share on March 25, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Compass Minerals overstated the likelihood that it would be awarded a renewed U.S. Forest Service contract for the use of its proprietary magnesium chloride-based aerial fire retardants for the 2024 fire season, as a result of safety issues presented by its fire retardant; (2) Compass Minerals materially overstated the extent to which testing had confirmed that its fire retardants were safe; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased Compass securities during the Class Period, you may move the Court no later than June 24, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Compass securities, 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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