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Case Status:    ONGOING    
On or around 08/01/2019 (Ongoing date of last review)

Filing Date: July 31, 2019

According to the Complaint, Venator is a global chemical company primarily focused on the development and manufacture of Titanium Dioxide. Titanium Dioxide is a naturally occurring, opaque mineral that is used to enhance whiteness, opacity, and brightness in thousands of manufactured items such as coatings, plastics, paper, paints, inks, fibers, food, and personal care products, and is the mainstay of Venator’s range of products.

Venator was previously organized as the Pigments & Additives division within Huntsman Corporation, a multinational manufacturer of chemical products. In August 2017, Huntsman offered shares of Venator to the public through an initial public offering. Months earlier, however, on January 30, 2017, a fire had ravaged one of Venator's key chemical manufacturing plants located in Pori, Finland.

The Complaint alleges that in connection with its IPO and its December 2017 secondary stock offering, and continuing throughout the Class Period, Defendants misrepresented the true extent of the fire damage to Venator's Pori facility, the cost to rehabilitate the facility, and the impact on Venator's business and operations. The Company also assured investors that the Pori facility would be rebuilt with insurance proceeds within its policy limits. Throughout the Class Period, Venator and its executives continued to assure investors that the rebuild of the Pori facility was on track and that the Company would be able to fully recoup the production capacity lost in the fire. As a result of these misrepresentations, Venator shares traded at artificially inflated prices throughout the Class Period.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United Kingdom

SECURITIES INFORMATION:

Ticker Symbol: VNTR
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.
COURT: S.D. New York
DOCKET #: 19-CV-07182
JUDGE: Hon. Edgardo Ramos
DATE FILED: 07/31/2019
CLASS PERIOD START: 08/02/2017
CLASS PERIOD END: 10/29/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Klausner, Kaufman, Jensen & Levinson
    10059 Northwest 1st Court, Klausner, Kaufman, Jensen & Levinson, FL 33324
    954.916.1202 954.916.1232 ·
No Document Title Filing Date
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