CMP INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Compass Minerals International, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case

SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces that it has filed a class action to represent purchasers of Compass Minerals International, Inc. (NYSE: CMP ) common stock between October 31, 2017 and November 18, 2018, inclusive (the “Class Period”). Caption Local 295 IBT Employer Group Welfare Fund v. Compass Minerals International, Inc.No. 22-cv-2432 (D. Kan.), the Compass minerals class action lawsuit accuses Compass Minerals and some of its top executives of violating the Securities Exchange Act of 1934.

If you suffered significant losses and want to act as the main target owner in Compass minerals class action, please enter your information here:

https://www.rgrdlaw.com/cases-compass-minerals-international-inc-class-action-lawsuit-cmp.html

You can also contact a lawyer JC Sanchez of Robbins Geller by calling 800/449-4900 or by email at [email protected]. Lead plaintiff’s motions for Compass minerals the class action must be filed with the court by December 20, 2022.

CASE ALLEGED: Compass Minerals mines and produces essential minerals, including salt for winter road safety and other consumer, industrial and agricultural uses, and specialty plant nutrient minerals that improve crop quality and yield. During the class period, Compass Minerals operated three business segments: the Salt segment, the Plant Nutrition North America segment and the Plant Nutrition South America segment. In the salt segment, Compass Minerals operated the largest underground rock salt mine in the world in Goderich, Ontario, Canada, which Compass Minerals routinely touted as the “crown jewel” of its asset portfolio. Prior to the commencement of the class period, the defendants announced that Compass Minerals was investing in upgrades to the mining system at Goderich, from drill and blast to continuous mining and continuous haulage (“CMCH”), primarily in an effort to reduce costs and improve profitability.

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The Compass minerals The class action alleges that during the class period, defendants repeatedly assured investors that the CMCH upgrade at the Goderich mine was on track to significantly reduce costs and increase Compass Minerals’ operating results beginning in 2018. However, the defendants’ statements were misleading because they failed to tell investors that costs at The Goderich mine increased rather than decreased. The Compass material the class action further alleges that the defendants also misrepresented the amount of salt Compass Minerals could produce in Goderich with the new CMCH equipment and failed to disclose how the known and ongoing production shortfalls it was experiencing could reasonably be expected to reduce its future operating income.

On February 13, 2018, Compass Minerals released its financial results for the fourth quarter of fiscal year 2017. The following day, Compass Minerals held an earnings call for analysts and investors to discuss fourth quarter results. Following the release of Q4 2017 results, Compass Minerals’ share price fell by more than 9% over the next two trading days.

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Then, on August 7, 2018, Compass Minerals announced its second quarter of fiscal 2018, attributing the decline in Salt’s operating profit to various cost overruns, unrelated to the CMCH transition. Following the release of Q2 2018 results, Compass Minerals’ share price fell 4.3%.

Then, on October 23, 2018, Compass Minerals presented third quarter 2018 financial results that were significantly below expectations and lowered its outlook for the rest of the year. On this news, the Compass Minerals share price fell by more than 30% over the next two trading days.

Finally, on November 19, 2018, Compass Energy announced the abrupt termination of its CEO, respondent Francis J. Malecha. On this news, Compass Minerals’ share price fell another 8% over the next three days, further hurting investors.

The plaintiff is represented by Robbins Geller, who has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can see a copy of the complaint by clicking here.

THE LEADERSHIP PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Compass Minerals common stock during the class period to seek appointment as lead plaintiff in Compass minerals class action. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class, which is also typical and adequate to the putative class. A lead plaintiff acts on behalf of all other class members under the direction of Compass minerals class action. The lead plaintiff may choose a law firm of his choice to litigate Compass minerals class action. An investor’s ability to share in any future recovery of Compass minerals class actions are not dependent on serving as the lead plaintiff.

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ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action representing plaintiffs in securities fraud cases. The firm is ranked No. 1 in ISS Securities Class Action Services’ 2021 Top 50 report for recovering nearly $2 billion for investors last year alone — more than triple the amount recovered by any other plaintiff firm. With 200 attorneys in 9 offices, Robbins Geller is one of the largest litigation 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 ever—$7.2 billion—in In re Enron Corp. Sec. Little. Visit the following page for more information:

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

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