Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the District of Arizona on behalf of shareholders of Freeport-McMoRan Inc. (NYSE: FCX) who purchased shares between February 27, 2015 and January 15, 2016.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (i) Sjamsuddin, the chief executive officer of the Company’s Indonesian unit, had discussed, with senior officials in the Indonesian government, bribing Indonesian government officials in return for an extension of Freeport’s right to operate in the country; (ii) that Freeport had violated the Foreign Corrupt Practices Act (“FCPA”); and (iii) as a result of the foregoing, Freeport’s public statements were materially false and misleading at all relevant times.
On January 19, 2016, Sjamsuddin resigned, less than a month after the chairman of Freeport-McMoRan resigned.
If you suffered a loss in Freeport-McMoRan you have until March 28, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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