Law Offices of Howard G. Smith continues its investigation on behalf of GrafTech International Ltd. (“GrafTech” or the “Company”) (NYSE: EAF) investors concerning the Company’s possible violations of federal securities laws.
On September 16, 2022, after the market closed, GrafTech disclosed that operations had been temporarily suspended at its graphite electrode manufacturing facility after an inspection by the State Attorney’s Office for the Secretary of the Environment for the State of Nuevo León. The Company’s International operating license in Mexico was also determined to be no longer in effect.
On this news, GrafTech’s stock fell $0.45, or 8.5%, to close at $4.85 on September 19, 2022, thereby injuring investors.
Then, on April 28, 2023, GrafTech released its first quarter 2023 financial results, revealing that sales had declined 62% compared to the previous year, reporting a net loss of over $7 million compared to a net income of $124 million the previous year.
On this news, GrafTech’s stock price fell $0.47, or 9.9%, over the next two consecutive trading days to close at $4.25 per share on May 1, 2023, thereby injuring investors further.
If you purchased GrafTech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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