NEW YORK, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit on behalf of shareholders who purchased shares of Venator Materials PLC (NYSE: VNTR) from August 2, 2017 through October 29, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Venator investors under the federal securities laws.

To express an interest in the class action, go to http://pawarlawgroup.com/cases/venator-materials-plc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the fire damage at Venator’s Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (2) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company’s insurance policy; (3) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (4) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; (5) the Company’s reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%; (6) as a result, Venator would incur over $600 million in restructuring expense and additional charges associated with the closure and replacement of the Pori facility; and (7) as a result of the foregoing, defendants’ positive statements about Venator’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff.   Attorney advertising.

Pawar Law Group represents investors from around the world.

Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com