GrafTech International Ltd. (NYSE: EAF)

This lawsuit is for anyone who acquired securities in GrafTech International Ltd. (NYSE: EAF) from February 8, 2019 through August 3, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company was committed to manufacturing in an environmentally responsible way when the Company was actually polluting the environment, most notable by spreading carcinogens to communities neighboring the Company’s graphite electrode manufacturing facility in the State of Nuevo León, Mexico.

On September 16, 2022, after the market closed, GrafTech disclosed that operations had been temporarily suspended at its graphite electrode manufacturing facility after an inspection by the State Attorney’s Office for the Secretary of the Environment for the State of Nuevo León. The Company’s International operating license in Mexico was also determined to be no longer in effect. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Although Mexican officials eventually allowed the facility to reopen, a series of subsequent disclosures occurred, each causing the price of the Company’s stock to drop precipitously on unusually heavy trading volume.  Finally, on August 4, 2023, the Company announced disappointing second quarter results and stated that the Monterrey suspension was the “key driver” of the underperformance and revealed that GrafTech’s ability to secure customer contracts would continue to be indirectly impacted in the second half of fiscal 2023. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in GrafTech International Ltd. (NYSE: EAF) from February 8, 2019 through August 3, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.