NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Freeport-McMoRan, Inc. ("Freeport-McMoRan" or the "Company") (NYSE: FCX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Freeport-McMoRan and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 19, 2016, pre-market, the company announced the resignation of its Indonesian unit's CEO, Maroef Sjamsuddin, citing "personal reasons." This announcement followed an inquiry by Sjamsuddin into Indonesian parliamentary speaker Setya Novanto regarding attempted extortion of the company by Indonesian government officials. Sjamsuddin had alleged that Novanto sought a multi-billion dollar stake in the company's divestment plan in exchange for "high level" lobbying to secure contract extensions before the company's Indonesian mining concession ends in 2021.
On this news, Freeport-McMoRan stock fell $0.39, or 8.97%, to close at $3.96 on January 19, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP email@example.com
SOURCE Pomerantz LLP