NEW YORK, NY - 
(NewMediaWire) - May 13, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Compass Minerals International, Inc. (“Compass Minerals” or the “Company”) (NYSE: CMP) securities between November 29, 2023 and March 22, 2024 (the “Class Period”). Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than June 24, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On March 25, 2024, before the market opened, Compass Minerals issued a press release entitled "Compass Minerals Announces the Company Will Not Secure a USFS Contract to Supply Magnesium Chloride-Based Aerial Fire Retardants for the 2024 Fire Season." The press release stated that "during scheduled winter airtanker inspections as part of the [U.S. Forest Service's] Integrated Operational Field Evaluation (I-OFE), it was discovered that certain airtankers that had flown Fortress North America's (Fortress') proprietary, magnesium chloride-based aerial fire retardants revealed significant signs of corrosion in areas where build-up of the retardant had occurred" and that "[t]he findings from this more extensive inspection raised aircraft safety concerns, prompting the USFS' decision to inform Compass Minerals on March 22, 2024, that it would be 'unable to define the scope and associated terms and conditions of a new contract' with the [C]ompany until the National Transportation Safety Board (NTSB) and National Institute of Standards and Technology (NIST) conducted a coordinated, independent assessment of the findings."
Following this news, the price of Compass Minerals stock fell $3.00 per share, or 17.09%, to close at $14.55 per share on March 25, 2024.
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