Freeport-McMoRan(US:FCX) Newsfile·2025-12-04 20:46Core 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 through its affiliate PT Freeport Indonesia, where the Indonesian government holds a commercial interest [5]. - The company has previously emphasized its commitment to safety through advanced data, technology, and behavioral science principles to prevent fatal incidents [5]. Group 3: Allegations of Safety Overstatement - Allegations suggest that Freeport overstated its safety commitment, as unsafe mining practices at the Grasberg mine were likely to result in worker fatalities [6]. Group 4: 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 operational suspensions, the stock fell by $7.69 per share (almost 17%) [8]. - On September 25, 2025, reports of strained relations with the Indonesian government led to a further drop of $2.33 per share (over 6%) [9]. - An Indonesian news report on September 28, 2025, claimed the incident was preventable, suggesting that the risks associated with certain mining methods were known [11].