(English) Venator Materials PLC
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces the Filing of a Securities Class Action Lawsuit Against Venator Materials PLC – VNTR
New York, N.Y., August 2, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Venator Materials PLC (NYSE: VNTR) from August 2, 2017 through October 29, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Venator investors under the federal securities laws.
To join the Venator class action, go to http://zhanginvestorlaw.com/cases/venator-materials-plc/ or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the fire damage at Venator’s Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (2) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company’s insurance policy; (3) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (4) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; (5) the Company’s reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%; (5) as a result, Venator would incur over $600 million in restructuring expense and additional charges associated with the closure and replacement of the Pori facility; and (7) as a result of the foregoing, defendants’ positive statements about Venator’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/venator-materials-plc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.