NEW YORK, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Freeport-McMoRan Inc. ("Freeport-McMoRan Inc." or the "Company") (NYSE: FCX) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Freeport-McMoRan Inc. investors who were adversely affected by alleged securities fraud between February 15, 2022 and September 24, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/ ...

Core Viewpoint - The Freeport-McMoRan Inc. class action lawsuit alleges violations of the Securities Exchange Act of 1934, focusing on safety issues at the Grasberg mine and the subsequent impact on stock prices [1][3]. Group 1: Class Action Details - The class action lawsuit is titled Reed v. Freeport-McMoRan Inc., and it includes purchasers of Freeport-McMoRan securities from February 15, 2022, to September 24, 2025 [1]. - Investors have until January 12, 2026, to seek appointment as lead plaintiff in the lawsuit [1][7]. Group 2: Allegations Against Freeport-McMoRan - The lawsuit claims that Freeport-McMoRan failed to ensure adequate safety at the Grasberg Block Cave mine, which heightened risks for workers [3]. - It is alleged that the company did not disclose the risks associated with safety failures, leading to regulatory, litigation, and reputational risks [3]. Group 3: Incident and Stock Impact - On September 9, 2025, Freeport-McMoRan reported a significant incident at the Grasberg mine, leading to a nearly 6% drop in stock price [4]. - Following the revelation of fatalities and ongoing search efforts for missing team members on September 24, 2025, the stock price fell nearly 17% [5]. - An article published on September 25, 2025, indicated that the production halt could strain relations with the Indonesian government, resulting in an additional stock price drop of over 6% [6]. Group 4: Company Background - Freeport-McMoRan is engaged in mining operations in North America, South America, and Indonesia, with significant operations at the Grasberg mine in Papua, Indonesia [2].

Core Viewpoint - A class action lawsuit has been filed against Freeport-McMoRan Inc. and certain senior executives for securities fraud following significant stock drops attributed to potential violations of federal securities laws [1][3]. Company Overview - Freeport-McMoRan Inc. is a mining company with its Indonesian affiliate operating as PT Freeport Indonesia, which manages the Grasberg Copper and Gold Mine [4]. Allegations - The lawsuit alleges that Freeport overstated its commitment to safety, as unsafe mining practices at the Grasberg mine were likely to result in worker fatalities [5]. Stock Performance - On September 9, 2025, Freeport's stock dropped by $2.77 per share (over 5.9%) following a press release about suspended mining operations due to a landslide [6]. - On September 24, 2025, after an update on the incident revealed two fatalities and operational suspensions, the stock fell by $7.69 per share (almost 17%) [7]. - On September 25, 2025, reports of strained relations with the Indonesian government led to a further decline of $2.33 per share (over 6%) [8]. - An Indonesian news report on September 28, 2025, indicated that the landslide was preventable, further impacting investor confidence [9].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Freeport-McMoRan Inc. securities between February 15, 2022, and September 24, 2025, about the upcoming lead plaintiff deadline for a securities class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought Freeport-McMoRan securities during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by January 12, 2026 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Case Allegations - The lawsuit alleges that Freeport-McMoRan made false and misleading statements regarding safety measures at the Grasberg Block Cave mine in Indonesia, which posed a heightened risk to workers [5]. - It is claimed that the lack of proper safety precautions led to undisclosed regulatory, litigation, and reputational risks, resulting in materially false statements about the company's business and operations [5].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Freeport-McMoRan Inc. regarding a class action lawsuit alleging misleading statements and safety issues at the Grasberg Block Cave mine in Indonesia [1][3]. Summary by Sections Class Action Details - The class period for the lawsuit is from February 15, 2022, to September 24, 2025 [3]. - Allegations include failure to ensure safety at the Grasberg Block Cave mine, which heightened risks of worker fatalities and regulatory, litigation, and reputational risks [3]. Shareholder Actions - Shareholders are encouraged to register for the class action by January 12, 2026, to potentially become lead plaintiffs [4]. - Registration provides access to portfolio monitoring software for status updates throughout the case [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].

Market Overview - U.S. stock markets have shown strong performance in 2025, with the Dow, S&P 500, and Nasdaq Composite increasing by 13.1%, 17.1%, and 22.3% year to date, respectively [1] - Strong third-quarter earnings, solid economic fundamentals, and an anticipated interest rate cut by the Fed are expected to sustain market momentum through December [1] Corporate Focus - Five major companies with market capitalizations over $50 billion have been identified for investor focus in December, all of which have delivered double-digit returns in the past month: Carvana Co. (CVNA), Walmart Inc. (WMT), Applied Materials Inc. (AMAT), Freeport-McMoRan Inc. (FCX), and Merck & Co. Inc. (MRK) [2][8] Carvana Co. (CVNA) - Carvana's operational focus, scalable model, and cost-cutting efforts are attracting investor interest, with the acquisition of ADESA's U.S. operations enhancing its logistics and reconditioning processes [5][6] - Currently holding only a 1.5% share of the U.S. automotive retail market, Carvana has significant expansion potential [6] - The company reported an adjusted EBITDA of $637 million for Q3, up $208 million year-over-year, with industry-leading margins of 11.3% [7] - For the full year, Carvana forecasts adjusted EBITDA between $2 billion and $2.2 billion, an increase from $1.38 billion last year [7] - Expected revenue and earnings growth rates for Carvana are 44.8% and over 100%, respectively, for the current year [9] Walmart Inc. (WMT) - Walmart's diversified business model and strong omnichannel strategy have increased traffic to both physical and digital platforms, leading to steady grocery market share gains [10] - Significant enhancements in delivery capabilities include the Express On-Demand Early Morning Delivery service and partnerships with Salesforce and DroneUp [11] - Expected revenue and earnings growth rates for Walmart are 4.4% and 4.8%, respectively, for the current year [12] Applied Materials Inc. (AMAT) - Applied Materials is benefiting from a rebound in the semiconductor industry, particularly in foundry and logic sectors, with strong performance in its services segment [13][14] - The company has a diversified portfolio that supports growth across various sectors, including IoT and automotive [14] - Expected revenue and earnings growth rates for Applied Materials are 2% and 1%, respectively, for the current year [15] Freeport-McMoRan Inc. (FCX) - Freeport-McMoRan is expanding reserves through exploration activities and executing smelter projects in Indonesia, positioning itself to benefit from the automotive electrification trend [16] - The company is focused on reducing debt and maintaining solid financial health [16] - Expected revenue and earnings growth rates for Freeport-McMoRan are -1.9% and 0.7%, respectively, for the current year [17] Merck & Co. Inc. (MRK) - Merck's sales are driven by its blockbuster drug Keytruda and new product launches, with ongoing label expansions expected to sustain growth [18] - The company is pursuing M&A opportunities to diversify its pipeline beyond Keytruda, with recent approvals for new products [19] - Expected revenue and earnings growth rates for Merck are 1% and 17.4%, respectively, for the current year [20]

Investment Rating - Industry Rating: Recommended [5] Core Insights - In Q3 2025, Freeport's copper production decreased by 5.2% quarter-on-quarter to 413,700 tons, with a year-on-year decline of 13.1% due to a mud leak incident at PTFI and declining ore grades [2][3] - The average realized price for copper in Q3 2025 was $4.68 per pound, reflecting an increase of 8.8% year-on-year and 3.1% quarter-on-quarter [2] - The average unit net cash cost for copper was $1.40 per pound, up 0.7% year-on-year and 23.9% quarter-on-quarter, but below the guidance of $1.59 per pound in July 2025 [3][4] - Gold production in Q3 2025 was 287,000 ounces, down 37.1% year-on-year and 9.5% quarter-on-quarter, primarily due to the same mud leak incident [7] - Molybdenum production in Q3 2025 was 22 million pounds, a decrease of 32.5% year-on-year, while the average realized price increased by 5.2% year-on-year to $24.07 per pound [8] Summary by Sections Production and Sales - Q3 2025 copper production was 912 million pounds, with sales of 977 million pounds, both showing declines compared to the previous year [14] - Q3 2025 gold sales were 336,000 ounces, down 39.8% year-on-year [14] - Q3 2025 molybdenum sales were 19 million pounds, remaining stable year-on-year [14] Financial Performance - Q3 2025 revenue was $6.972 billion, a year-on-year increase of 2.7% [15] - Operating income for Q3 2025 was $1.972 billion, up 1.8% year-on-year [15] - Net income attributable to common stock was $674 million, with earnings per share of $0.46, reflecting a year-on-year increase of 28.1% [15] Future Outlook - For 2025, total expected sales are approximately 3.5 billion pounds of copper, 1.05 million ounces of gold, and 82 million pounds of molybdenum, with a significant portion of production expected to ramp up in late 2025 and 2026 [9][10] - The Grasberg mine is set to resume large-scale production in Q2 2026, with anticipated copper and gold production levels expected to match 2025 estimates [13]

Core Viewpoint - A class action lawsuit has been filed against Freeport-McMoRan Inc. and certain senior executives for securities fraud, following significant stock drops attributed to potential violations of federal securities laws [2][4]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Arizona, titled Reed v. Freeport-McMoRan Inc., et al., No. 2:25-cv-04243, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [4]. - Investors have until January 12, 2026, to request to lead the case [4]. Group 2: Company Operations and Safety Claims - Freeport-McMoRan operates the Grasberg Copper and Gold Mine in Indonesia, where it has been accused of overstating its commitment to safety while conducting unsafe mining practices [5][6]. - The company had previously promoted its safety procedures, including the use of data and technology to prevent fatal incidents [5]. Group 3: Stock Price Impact - On September 9, 2025, Freeport's stock dropped by $2.77 per share (over 5.9%) following a press release about suspended mining operations due to a landslide [7]. - Following an update on September 24, 2025, indicating two fatalities and a projected 4% and 6% decrease in copper and gold sales, the stock fell by $7.69 per share (almost 17%) [8]. - Additional reports on September 25, 2025, regarding strained relations with the Indonesian government led to a further decline of $2.33 per share (over 6%) [10]. - An Indonesian news report on September 28, 2025, suggested the incident was preventable, further impacting investor confidence [11].

Core Viewpoint - Faruqi & Faruqi LLP is investigating potential claims against Freeport-McMoran Inc. related to a federal securities class action lawsuit, with a lead plaintiff deadline set for January 12, 2026 [2][4]. Group 1: Legal Proceedings - The lawsuit alleges that Freeport and its executives violated federal securities laws by making false or misleading statements and failing to disclose safety issues at the Grasberg Block Cave mine in Indonesia [4]. - The complaint highlights that inadequate safety measures posed a heightened risk of worker fatalities, which was not disclosed to investors [4]. - Investors who purchased Freeport securities between February 15, 2022, and September 24, 2025, are encouraged to discuss their legal rights with the firm [2][4]. Group 2: Incident Impact - On September 9, 2025, Freeport suspended mining activities at the Grasberg Block Cave after a significant incident trapped seven workers, leading to a stock price drop of $2.77 (5.9%) to $43.89 per share [5]. - Following the tragic update on September 24, 2025, where two workers were confirmed dead, Freeport's stock fell by $7.69 (17%) to close at $37.67 per share [6]. - An article published on September 25, 2025, indicated that the halt in production could strain Freeport's relationship with the Indonesian government, resulting in a further stock decline of $2.33 (6.2%) to $35.34 [7]. Group 3: Expert Opinions and Future Actions - An expert stated that the landslide incident at Freeport was preventable and should have been anticipated, raising concerns about the company's operational safety [8]. - The firm encourages anyone with information regarding Freeport's conduct, including whistleblowers and former employees, to come forward [9].

Core Viewpoint - A class action lawsuit has been filed against Freeport-McMoRan Inc. and certain senior executives for securities fraud following significant stock drops attributed to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit is based on claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing investors in Freeport securities [3]. - Investors have until January 12, 2026, to request to lead the case, which is pending in the U.S. District Court for the District of Arizona [3]. Group 2: Company Operations and Safety Claims - Freeport operates the Grasberg Copper and Gold Mine in Indonesia, where it has been accused of overstating its commitment to safety while conducting unsafe mining practices [4][5]. - The company had previously promoted its safety procedures, including the use of data and technology to prevent fatal incidents [4]. Group 3: Stock Price Impact - On September 9, 2025, Freeport's stock dropped by $2.77 per share (over 5.9%) following a press release about suspended mining operations due to a landslide [6]. - Following updates on September 24, 2025, regarding fatalities and expected lower sales, the stock fell by $7.69 per share (almost 17%) [7]. - Additional reports on September 25, 2025, regarding strained relations with the Indonesian government led to a further drop of $2.33 per share (over 6%) [8]. - An Indonesian news report on September 28, 2025, indicated that the landslide was preventable, further impacting investor sentiment [9].