Case Summary

GrafTech International

NYSE: EAF

Case Details

  • Porter v. GrafTech International Ltd. et al.
  • Class Period:February 08, 2019 - August 03, 2023
  • Date Filed:January 25, 2024
  • Jurisdiction:U.S. District Court, Northern District of Ohio
  • Docket Number: 1:24-cv-00154
  • Lead Plaintiff Deadline: March 25, 2024
Days Left to
Seek Plaintiff
33

Overview

A class action lawsuit has been filed against GrafTech International Ltd. (“GrafTech” or the “Company”) (NYSE: EAF) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The GrafTech lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired GrafTech common stock between February 8, 2019, and August 3, 2023, both dates inclusive (the “Class Period”), and investors have until March 25, 2024, to seek appointment as lead plaintiff of the GrafTech class action lawsuit.

GrafTech is a global manufacturer of graphite electrode products and is headquartered in Brooklyn Heights, Ohio.

The GrafTech lawsuit alleges that defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: (1) GrafTech’s manufacturing operations in Monterrey, Mexico had for decades chronically contaminated neighboring communities with harmful carcinogenic gasses and particulate matter; (2) GrafTech had signed agreements with local authorities committing itself to improving the environmental performance of its Monterrey facility, but repeatedly failed to honor these commitments; (3) GrafTech had been repeatedly warned over an approximately 30-year period regarding its wanton disregard for the environment and health and well-being of people near its operations in Monterrey, Mexico; (4) GrafTech’s operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations; (5) GrafTech had failed to adequately remediate the environmental problems caused by the Monterrey facility following the 2019 administrative proceeding conducted by the Department of Sustainable Development of the State of Nuevo Len; (6) the government of Apodaca had sought intervention from the State of Nuevo Leon authorities to curtail and prevent the adverse environmental impacts and noncompliance with environmental laws and regulations caused by the Monterrey facility; (7) GrafTech’s purported cost leadership was achieved in substantial part by failing to implement appropriate and effective environmental safeguards at its manufacturing facility in Monterrey, Mexico; (8) GrafTech’s capital expenditures and/or related operational projects were woefully insufficient to adequately address the harm that GrafTech’s operations in Monterrey, Mexico had inflicted on the environment and people within the neighboring communities; and (9) as a result of the above, GrafTech was acutely exposed to undisclosed material risks that GrafTech’s manufacturing operations in Monterrey, Mexico would be severely disrupted by government action or enforcement and its supplies of pin stock and graphite electrodes would be withdrawn and/or materially diminished, thereby materially harming GrafTech’s business, operations, reputation, and financial results.

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If you purchased or otherwise acquired GrafTech (NYSE: EAF) common stock between February 8, 2019 and August 3, 2023, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the GrafTech lawsuit is March 25, 2024.

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