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The Law Offices of Frank R. Cruz Continues Investigation of GrafTech International Ltd. (EAF) on Behalf of Investors
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PR Newswire
LOS ANGELES, Jan. 19, 2024
LOS ANGELES, Jan. 19, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz continues its investigation of GrafTech International Ltd. ("GrafTech" or the "Company") (NYSE: EAF) on behalf of investors concerning the Company's possible violations of federal securities laws.
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 The Company's International operating license in Mexico was also determined to be no longer in effect.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, GrafTech's stock price fell $0.45, or 8.5%, to close at $4.85 on September 19, 2022, thereby injuring investors.
Then, on April 28, 2023, GrafTech released its first quarter 2023 financial results, revealing that sales had declined 62% compared to the previous year, reporting a net loss of over $7 million compared to a net income of $124 million the previous year.
On this news, GrafTech's stock price fell $0.47, or 9.9%, over the next two consecutive trading days to close at $4.25 per share on May 1, 2023, thereby injuring investors further.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased GrafTech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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