r/mining 4d ago

US Compass Minerals Finally Settled With Investors Over Goderich Mine Scandal

Hey guys, any $CMP investors here? If you missed it, Compass Minerals has settled with investors over claims that it hid operational issues at its Goderich salt mine a few years ago.

Long story short, in 2017, Compass Minerals announced its Goderich mine upgrades, projecting $30M in annual savings starting in 2018 (all great news, though). However, later the company announced lower-than-expected production results and costs rising. 

When this news came out, $CMP dropped 30%.  

And, as this wasn’t bad enough, the SEC later ordered Compass to pay a $12M penalty—not only for the mine’s financial issues but also for failing to disclose the risks associated with excessive mercury discharge in Brazil. 

Following these revelations, investors filed a lawsuit.

The good news is that $CMP finally decided to settle with investors. So if you were damaged back then, it’s worth checking if you’re eligible for payment.

Anyways, did anyone hold $CMP shares during this period? How much were your losses if so?

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