EAF INVESTIGATION: Robbins Geller Rudman & Dowd LLP Announces Investigation into GrafTech International Ltd. and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm

SAN DIEGO, Oct. 16, 2023 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving GrafTech International Ltd. (NYSE: EAF) focused on whether GrafTech as well as certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors (the "GrafTech Investigation").

If you have information that could assist in the GrafTech Investigation or if you are a GrafTech investor who suffered a loss and would like to learn more, you can provide your information here:

https://www.rgrdlaw.com/cases-graftech-international-ltd-investigation-eaf.html 

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

THE COMPANY: GrafTech is a global manufacturer of graphite electrode products.

THE REVELATIONS:  On September 16, 2022, GrafTech disclosed that its manufacturing facility in Monterrey, Mexico had been ordered to shut down by regulators following a pair of inspections by the State Attorney's office for the Secretary of Environment and the Ministry of Environment. 

Then, on February 3, 2023, GrafTech revealed that the temporary closure of the Monterrey facility would have a "significant" adverse impact on GrafTech's business performance in the first half of fiscal year 2023.

Thereafter, on April 28, 2023, GrafTech announced that first quarter 2023 sales declined 62% compared to the first quarter of 2022 due to the suspension of operations at GrafTech's Monterrey facilities, causing GrafTech to report a net loss of more than $7 million, down significantly from reported net income of approximately $124 million in the prior year quarter.

Subsequently, on August 4, 2023, GrafTech reported that second quarter 2023 sales declined 49% compared to the second quarter of 2022.  GrafTech further reported a net loss of $8 million compared to $115 million in net income GrafTech reported in the second quarter of 2022.

ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs' firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

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Contact:
            Robbins Geller Rudman & Dowd LLP
            655 W. Broadway, Suite 1900, San Diego, CA  92101
            J.C. Sanchez, 800-449-4900
            [email protected] 

SOURCE Robbins Geller Rudman & Dowd LLP