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Compass Minerals International, Inc.


A securities class action has been filed against Compass Minerals International, Inc. (CMP) on behalf of all purchasers of Compass Minerals common stock between October 31, 2017 through November 18, 2018.  This case has been filed in the USDC – KS.

On September 23, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced that Compass was ordered to pay $12 million to settle charges “for misleading investors about a technology upgrade that the company claimed would reduce costs at its most significant mine, but in reality, had increased costs, and for failing to properly assess whether to disclose the financial risks created by the company’s excessive discharge of mercury in Brazil.” Specifically, according to the SEC, “Compass repeatedly assured investors in 2017 that a technology upgrade at its Goderich mine – the world’s largest underground salt mine which is located near Ontario, Canada and hailed by the company as its crown jewel – was on track to materially reduce costs and boost its operating results starting in 2018,” but these statements by Compass “were misleading because they failed to tell investors that costs at the mine were increasing rather than decreasing, which substantially undermined the projected savings.” Further, the SEC found that “Compass misled investors by overstating the amount of salt it was able to product at Goderich.” On this news, Compass’s stock price fell sharply, damaging investors.

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Securities