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Portnoy Law Firm Announces Class Action on Behalf of Freeport-McMoran, Inc. Investors
Globenewswire· 2025-12-04 15:00
Core Viewpoint - Freeport-McMoran, Inc. is facing a class action lawsuit from investors who purchased securities during the specified class period due to significant operational issues and stock price declines following a mining incident in Indonesia [1][3]. Group 1: Legal Action - The Portnoy Law Firm is advising Freeport investors to join a class action lawsuit for those who bought securities between February 15, 2022, and September 24, 2025 [1]. - Investors have until January 12, 2026, to file a lead plaintiff motion [1]. Group 2: Incident Details - On September 9, 2025, Freeport announced the suspension of mining activities at its Grasberg Block Cave operation due to a blockage caused by wet material, which trapped seven workers [3]. - Following the incident, Freeport's stock price dropped by $2.80 per share, or 5.99%, closing at $43.87 on September 9, 2025 [3]. - An update on September 24, 2025, revealed that two workers were fatally injured and five remained missing, leading to a further stock price decline of $7.69 per share, or 16.95%, closing at $37.67 [3]. Group 3: Firm's Background - The Portnoy Law Firm has a history of representing investors in claims related to corporate wrongdoing and has recovered over $5.5 billion for aggrieved investors [4].