November 16, 2020 - The case was dismissed.

November 10, 2020 - The court granted the defendants' motion to dismiss.

July 17, 2019 - An amended complaint was filed.

January 22, 2019 - An investor in shares of Ferroglobe PLC (NASDAQ: GSM) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Ferroglobe PLC in connection with certain allegedly false and misleading statements made between August 21, 2018 and November 26, 2018.

London based Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. Ferroglobe PLC reported that its annual Total Revenue rose from over $1.57 billion in 2016 to over $1.74 billion in 2017 and that its Net Loss declined from $338.42 million in 2016 to $0.678 million in 2018.

On November 26, 2018, the Company reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of $66.0 million the prior quarter. Shares of Ferroglobe PLC (NASDAQ: GSM) declined from $17.40 per share on February 26, 2018 to as low as $1.47 per share on December 17, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Ferroglobe PLC (NASDAQ: GSM) common shares between August 21, 2018 and November 26, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 21, 2018 and November 26, 2018, the defendants failed to disclose to investors that there was excess supply of the Company’s products, that demand for the Company’s products was declining, that, as a result, the pricing of the Company’s products would be materially impacted, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.