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VNTR.US
id: 327
S.D. Texas
Court
08 Feb 2017
Class period Start
29 Oct 2018
Class period End
17 Oct 2022
Claim deadline
Venator 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.
Case Status
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Fresno County Employees’ Retirement Association, City of Miami General Employees’ & Sanitation Employees’ Retirement Trust, City of Pontiac General Employees’ Retirement System
Attorneys
Ajamie LLP, Bernstein Litowitz Berger & Grossmann LLP (New York)
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
Cash Settlement Amount

Venator Materials PLC

Venator Materials PLC, together with its subsidiaries, manufactures and markets chemical products in the United Kingdom and internationally. It operates in two segments, Titanium Dioxide and Perfor...

    Ticker
    VNTR.US
    ISIN
    GB00BF3ZNS54
    CIK
    1705682
    Sector
    Basic Materials
    Industry
    Chemicals
    Country
    USA
    Address
    Titanium House, Stockton-On-Tees, United Kingdom, TS22 5FD