NEW YORK, Jan. 27, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Freeport-McMoRan Inc. ("Freeport" or the "Company") (NYSE: FCX), concerning whether the board has breached its fiduciary duties to shareholders.
Freeport's Indonesian subsidiary is subject to an inquiry by the Indonesian House of Representatives regarding bribery solicitations by a public official. In November 2015, it was reported that an Indonesian state-owned enterprise workers union planned to request that the U.S. Department of Justice investigate whether Freeport had violated the Foreign Corrupt Practices Act related to allegations that Freeport had bribed public officials to renew a mining contract. Thereafter, Freeport's Chairman and the CEO of its Indonesian subsidiary both resigned in December 2015 and January 2016, respectively.
On these developments, Freeport stock is down from over $8 per share in November 2015 to its current price of $4.65.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Freeport shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: firstname.lastname@example.org Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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