Freeport-McMoRan(US:FCX) Globenewswire·2025-12-12 01:30Core Viewpoint - Freeport-McMoRan Inc. is facing a class action lawsuit due to alleged safety failures at its Grasberg Block Cave operation in Indonesia, which resulted in a tragic incident leading to worker fatalities and significant stock price declines [1][5]. Incident Overview - On September 9, 2025, Freeport announced the suspension of mining activities at the Grasberg Block Cave after a large flow of wet material trapped seven workers, causing the stock price to drop by $2.77, or 5.9%, closing at $43.89 per share [2]. - On September 24, 2025, Freeport reported that two of the trapped workers had died, leading to a further stock price decline of $7.69, or 17%, closing at $37.67 per share [3]. - Following the incident, concerns arose regarding Freeport's relationship with the Indonesian government, which controls 51% of the local entity, resulting in an additional stock price drop of $2.33, or 6.2%, to close at $35.34 on September 25, 2025 [4]. Lawsuit Details - The lawsuit alleges that from February 15, 2022, to September 24, 2025, Freeport failed to disclose inadequate safety measures at the Grasberg mine, which posed a heightened risk of worker fatalities and regulatory issues, rendering the company's positive statements about its operations misleading [5]. - Investors who purchased Freeport securities during the class period are encouraged to file a lead plaintiff motion by January 12, 2026 [6].