Freeport-McMoRan(US:FCX) Newsfile·2025-11-26 12:17Core Viewpoint - A class action lawsuit has been filed against Freeport-McMoRan Inc. for securities fraud, following significant stock drops attributed to alleged 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, specifically titled Reed v. Freeport-McMoRan Inc., et al., No. 2:25-cv-04243 [4]. - Investors have until January 12, 2026, to request to lead the case, with claims made under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [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 technology and behavioral science to prevent 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 updates on September 24, 2025, regarding fatalities and operational suspensions, 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, indicated that the landslide was preventable, further impacting investor confidence [11].