Compass Minerals
Settlement of Local 295 IBT Employer Group Welfare Fund v. Compass Minerals International, Inc., et al.
No. 2:22-cv-02432-EFM-ADM
The parties have reached a settlement of this action, pending in the United States District Court for the District of Kansas. The settlement provides for the payment of $48 million for the benefit of eligible Class Members. Plaintiffs Retail Wholesale Department Store Union Local 338 Retirement Fund and Local 295 IBT Employer Group Welfare Fund alleged that defendants made misleading statements about the cost of its operations at the Goderich underground rock salt mine in Ontario, Canada. Plaintiffs also alleged the defendants misrepresented the amount of salt Compass was able to produce using new equipment at Goderich and failed to disclose how production shortfalls were reasonably expected to reduce future operating income.
The Class consists of all Persons who purchased or otherwise acquired Compass Minerals common stock between October 31, 2017, and November 18, 2018, inclusive, and were allegedly damaged thereby. Excluded from the Class are: (1) Defendants and members of their immediate families; (2) the officers and directors of Compass Minerals, at all relevant times, and members of their immediate families; (3) the legal representatives, heirs, successors, or assigns of any of the foregoing; and (4) any entity in which any Defendant has or had a controlling interest. Also excluded from the Class is any Person who properly excluded himself, herself, itself, or themselves from the Class by submitting a valid and timely request for exclusion. To the extent any Compass Minerals employee benefit plan receives a distribution from the Net Settlement Fund, no portion shall be allocated to any Person who is excluded from the Class by definition.
The settlement was approved by the Court on July 31, 2025.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.
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