Venator Materials PLC (NYSE: VNTR) Investor Securities Class Action Lawsuit

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Company Name(s): 
Venator Materials
Case Name: 
Venator Materials Shareholder Class Action Lawsuit
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: VNTR
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Summary: 

An investor in shares of Venator Materials PLC (NYSE: VNTR) filed a lawsuit over alleged violations of Securities Laws by Venator Materials PLC in connection with certain allegedly false and misleading statements made in connection with the Company’s August 4, 2017 initial public offering and/or in its December 1, 2017 secondary offering

United Kingdom based Venator Materials PLC manufactures and markets chemical products worldwide.

Venator Materials PLC reported that its annual Total Revenue rose from over $2.13 billion in 2016 to over $2.2 billion in 2017 and that its Net Loss of $87 million in 2016 turned into a Net Income of $134 million in 2017.
Shares of Venator Materials PLC (NYSE: VNTR) declined from $25.58 per share in October 2017 to as low as $8.50 per share in September 2018.

The plaintiff alleges that materials relating to the initial and secondary public offerings contained materially false and/or misleading statements and/or failed to disclose adverse information. In January 2017, a fire ravaged one of Venator Materials PLC’s plants for manufacturing titanium dioxide in Pori, Finland. Unbeknownst to investors, Venator Materials PLC’s registration statements filed in connection with its IPO and its Secondary Public Offering failed to disclose the true extent of the fire damage to the company’s facility and the cost to repair it.