Compass Minerals(US:CMP) GlobeNewswire News Roomยท2024-06-17 13:06Core Viewpoint - A class action lawsuit has been filed against Compass Minerals for alleged losses incurred by investors during a specific class period, following a significant drop in stock price after the company announced it would not secure a contract with the US Forest Service for fire retardants [5][6][7]. Group 1: Lawsuit Details - The class action lawsuit was filed in the U.S. District Court for the District of Kansas on behalf of investors who acquired Compass Minerals securities between November 29, 2023, and March 22, 2024 [5][6]. - The lawsuit alleges that on March 25, 2024, Compass Minerals announced it would not secure a contract to supply magnesium chloride-based aerial fire retardants for the 2024 fire season, which led to a significant decline in stock price [7]. - Investors who purchased or acquired Compass Minerals securities during the class period have until June 24, 2024, to seek appointment as lead plaintiff representative [2]. Group 2: Stock Price Impact - Following the announcement on March 25, 2024, Compass Minerals' stock price fell by $3.00 per share, or 17.09%, closing at $14.55 [3]. - The day after the announcement, the stock price fell an additional $0.86 per share, or 5.91%, closing at $13.69 [3]. Group 3: Company Background - Compass Minerals is described as a leading global provider of essential minerals, focusing on delivering solutions to help address environmental challenges [8]. - The company fully acquired Fortress North America, LLC, on May 5, 2023, which previously sold fire retardant products exclusively to the US Forest Service [8].