Ferroglobe PLC
| Company Name | Ferroglobe PLC |
| Stock Symbol | GSM |
| Class Period | August 21, 2018 to November 26, 2018 |
| Lead Plaintiff Motion Deadline | March 25, 2019 |
On November 26, 2018, the Company reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of $66.0 million the prior quarter. On this news, the Company’s share price fell $2.97 per share, more than 62%, to close at $1.80 per share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was excess supply of the Company’s products; (2) that demand for the Company’s products was declining; (3) that, as a result, the pricing of the Company’s products would be materially impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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