Core Viewpoint - Freeport-McMoRan Inc. is facing a class action lawsuit for securities fraud, which has resulted in significant stock price drops due to alleged violations of federal securities laws [1][3]. Group 1: Lawsuit Details - A class action lawsuit has been filed against Freeport-McMoRan and certain senior executives, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [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]. - The lawsuit alleges that Freeport overstated its commitment to safety while conducting unsafe mining practices at the Grasberg mine, which could lead to worker fatalities [5]. Group 2: 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 an update on September 24, 2025, indicating two fatalities and a projected 4% drop in copper sales and 6% drop in gold 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 decline of $2.33 per share (over 6%) [9]. - An Indonesian news report on September 28, 2025, claimed the incident was preventable, further impacting investor confidence [10].
FREEPORT-MCMORAN NOTICE: Freeport-McMoRan Inc. (FCX) Investors are Notified of Securities Fraud Class Action and to Contact BFA Law by January 12