Lead‑Plaintiff Deadline Nears in Freeport‑McMoRan Securities Case

Overview

• The lawsuit is captioned Reed v. Freeport‑McMoRan Inc., No. 25‑cv‑04243, and is pending in the U.S. District Court for the District of Arizona.
• The putative class covers purchases of Freeport securities from Feb. 15, 2022 through Sept. 24, 2025, with motions for lead plaintiff due Jan. 12, 2026.
• Plaintiffs allege Freeport failed to ensure safety at the Grasberg Block Cave mine, creating foreseeable risks of worker deaths and undisclosed regulatory, litigation, and reputational exposure.
• Disclosures in September 2025 included a mining suspension after a wet‑material flow trapped seven workers, confirmation of two fatalities with five missing, and a warning that 2026 PTFI output could be about 35% below prior estimates, which corresponded with stock drops of roughly 5.9%, 17%, and then about 6% after subsequent reporting.
• Multiple firms, including Rosen, Robbins Geller, Levi & Korsinsky, Bragar Eagel & Squire, Kirby McInerney, Faruqi & Faruqi, and the Law Offices of Frank R. Cruz, are soliciting investors, and no class has been certified to date.