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Shareholder Class Action Filed Against Freeport-McMoran Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Freeport-McMoran Inc. (“Freeport”) (NYSE: FCX) between February 27, 2015 and January 15, 2016, inclusive (the “Class Period”).

Freeport investors may receive additional information about the case by clicking the link "Join this Class Action" above.

According to the complaint, Freeport is a natural resource company, engages in the acquisition of mineral assets, oil, and natural gas resources. The company primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, as well as oil and gas.  Freeport’s co-founder and former CEO, James Moffett (“Moffett”), played a key role in developing the company’s Indonesian operations, and often led negotiations for Freeport with Indonesian legislators and officials, rather than leaving it to the head executive of Freeport Indonesia.  In January 2015, Moffett, then the company’s Executive Chairman, appointed Maroef Sjamsuddin (“Sjamsuddin”), a retired Air Vice Marshal of the Indonesian Air Force and deputy chief of Indonesia’s National Intelligence Agency, to head Freeport Indonesia, despite Sjamsuddin’s lack of experience in mining.

The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) Sjamsuddin had discussed, with senior officials in the Indonesian government, bribing Indonesian government officials in return for an extension of Freeport’s right to operate in the country; (ii) that Freeport had violated the Foreign Corrupt Practices Act (“FCPA”); and (iii) as a result of the foregoing, Freeport’s public statements were materially false and misleading at all relevant times.

On November 19, 2015, the Financial Times reported the news, initially reported by the Jakarta Globe, of the Indonesian House of Representatives’ probe into Speaker Setya Novanto’s (“Novanto”) solicitation of bribes from Freeport.  Following this news, Freeport stock fell $0.36, or 4.1%, to close at $8.41 on November 19, 2015.

Then, on November 25, 2015, the Indonesian magazine Tempo published an interview with Novanto concerning the probe into Novanto’s dealings with Freeport Indonesia. Concerning his meetings with Sjamsuddin, Novanto stated, in part, that he believed Sjamsuddin had attempted to “blackmail” and “entrap” him.  Following this news, Freeport stock fell $0.20, or 2.4%, to close at $8.10 on November 25, 2016.

On December 28, 2015, Moffett resigned from his position as Executive Chairman of Freeport.  Following this news, Freeport stock fell $0.72, or 9.5%, to close at $6.85 on December 28, 2015.

Finally, on January 19, 2016, pre-market, Freeport announced the resignation of Sjamsuddin, citing “personal reasons.”  Following this news, Freeport stock fell $0.39, or 8.97%, to close at $3.96 on January 19, 2016.

If you are a member of the class described above, you may no later than March 28, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.

CONTACT:  

Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087

1-888-299-7706 (toll free) or 1-610-667-7706

Please list your purchase and sale transaction(s) in the Freeport-McMoran Inc. (“Freeport”) (NYSE: FCX) between February 27, 2015 and January 15, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Freeport-McMoran Inc. prior to the class period?
Area you a current or former employee of Freeport-McMoran Inc. ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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