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The filed complaint alleges that Methanex Corporation made materially false and/or misleading statements and/or failed to disclose that: Methanex issued a press release on March 9, 2025, "announc[ing] . . . that its 1.8 million tonne methanol plant, Geismar 3 (G3), in Geismar, Louisiana was impacted by an unplanned outage in late February." The press release stated that "[u]pon completing various inspections, management has decided to complete repairs to the autothermal reformer (ATR), and management currently estimates a plant startup by early May 2025." After the announcement, Scotiabank downgraded Methanex to Sector Perform from Sector Outperform. Following this news, Methanex's stock price fell over 12% on March 10, 2025.
In order to be eligible to join the MEOH class action lawsuit, you must have incurred a loss on shares of Methanex Corporation purchased during the class period listed above.
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