SAN DIEGO, CA / ACCESSWIRE / October 12, 2020 / The Shareholders Foundation, Inc. announces that a that a lawsuit is pending against Venator Materials PLC over alleged Securities Laws Violations.
Investors, who purchased shares of Huntsman Corporation (NYSE:HUN) and continue to hold any of those NYSE: HUN shares, have also certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
Venator Materials PLC was previously organized as the Pigments & Additives division within Huntsman Corporation. In August 2017, Huntsman offered shares of Venator to the public through an initial public offering. On July 31, 2019, a lawsuit was filed against Venator Materials PLC over alleged securities laws violations. The plaintiff alleged violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Venator ordinary shares during the time period of August 2, 2017 and October 29, 2018, and the plaintiff alleges also violations under Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 ("Securities Act") on behalf of all persons who purchased or otherwise acquired Venator ordinary shares in or traceable to the Company's initial public offering of ordinary shares conducted on or around August 3, 2017 (the "IPO"), and secondary public offering of ordinary shares conducted on or around December 4, 2017 (the "SPO," and together with the IPO, the "Offerings"). More specifically, the plaintiff claims that the defendants 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 plaintiff also alleges that the company assured investors that the Pori facility would be rebuilt with insurance proceeds within its policy limits, and that between August 2, 2017 and October 29, 2018, 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. On October 29, the Court issued an Order transferring this case to the Houston Division of the United States District Court for the Southern District of Texas. On January 17, 2020, a consolidated complaint was filed and on February 18 ,2020, the defendants filed their motion to dismiss the case. On May 14, 2020, the court heard oral arguments on the defendants' motions to dismiss the case.
Those who purchased Huntsman Corporation (NYSE:HUN) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.