On or around 09/13/2018 (Court's order of dismissal)
Filing Date: January 26, 2016
According to the law firm press release, the Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) a Company employee had discussed, with senior officials in the Indonesian government, bribing Indonesian government officials in return for an extension of Freeport’s right to operate in the country; (ii) that Freeport had violated the Foreign Corrupt Practices Act (“FCPA”); and (iii) as a result of the foregoing, Freeport’s public statements were materially false and misleading at all relevant times.
On August 19, 2016, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiff filed an amended Complaint on December 6. Defendants filed a Motion to Dismiss the amended Complaint on February 27, 2017. On August 3, 2018, the Court issued an Order granting Defendants' Motion to Dismiss the amended Complaint. Lead Plaintiff was given leave to file an amended Complaint. As Lead Plaintiff failed to file an amended Complaint, the case was dismissed on September 13.
Company & Securities Information
Defendant: Freeport-McMoran Incorporated
Sector: Basic Materials
Industry: Metal Mining
Headquarters: United States
Ticker Symbol: FCX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Dean Magro, et al. v. Freeport-McMoran Incorporated, et al.