NEW YORK, NY / ACCESSWIRE / October 21, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Mercer International Inc. ("Mercer" or the "Company") (NASDAQ:MERC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Mercer and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 16, 2024, Mercer issued a press release announcing its preliminary financial results for the third quarter of 2024. In the press release, Mercer stated that "our operating results for the quarter were constrained due to the occurrence of several unrelated events that impacted pulp production, including the previously announced unscheduled downtime of 23 days (approximately 35,500 ADMTs [air-dried metric tons]) at our Mercer Peace River mill, a slower than normal maintenance start-up and other production upsets at our Stendal Mill (approximately 26,500 ADMTs) and isolated mechanical incidents at our Celgar mill (approximately 9,200 ADMTs)."
On this news, Mercer's stock price fell $0.28 per share, or 3.99%, to close at $6.73 per share on October 17, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP