Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
VNTR.US
id: 327, Created by Stan Vick Chase, Scout
Venator Materials PLC
Settled
08 February 2017
Class period Start29 October 2018
Class period End17 October 2022
Claim deadlineVenator Materials PLC Securities Litigation.
Venator agreed to pay $19 million to settle a securities class action lawsuit accusing the Company of suspected felonies.
The Complaint alleged that in connection with its IPO and its December 2017 secondary stock offering, the Company misrepresented the true extent of the fire damage to Venator's Pori facility, the cost to rehabilitate the facility, and the impact on Venator's business and operations.
The Company also assured investors that the Pori facility would be rebuilt with insurance proceeds within its policy limits. Venator and its executives continued to assure investors that the rebuild of the Pori facility was on track and that the Company would be able to fully recoup the production capacity lost in the fire.
As a result of these misrepresentations, Venator shares traded at artificially inflated prices.
Venator agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
Fresno County Employees’ Retirement Association, City of Miami General Employees’ & Sanitation Employees’ Retirement Trust, City of Pontiac General Employees’ Retirement System
Attorney
Ajamie LLP, Bernstein Litowitz Berger & Grossmann LLP (New York)
Court
Southern District of Texas
Judge
Hon. Edgardo Ramos
Administrator
JND Legal Administration
Court hearing date
09 September 2022
Settlement conditions
purchased or otherwise acquired publicly traded Venator common stock either in or traceable to Venator’s August 3, 2017 initial public offering (“IPO”) or Venator’s December 4, 2017 secondary public offering
+$19,000,000
Total Settlement Amount