Freeport-McMoRan Faces Investor Class Action Over Grasberg Mine Safety Disclosures

Overview

• The case, captioned Reed v. Freeport‑McMoRan Inc., No. 2:25‑cv‑04243, is pending in the U.S. District Court for the District of Arizona and alleges securities law violations tied to safety statements.
• Filings assert the company overstated its safety practices at the Grasberg Block Cave mine and failed to disclose foreseeable operational, regulatory, litigation, and reputational risks.
• Multiple firms — including Bleichmar Fonti & Auld, Faruqi & Faruqi, Robbins Geller, and Levi & Korsinsky — are soliciting shareholders for the lead‑plaintiff role covering purchases from February 15, 2022 to September 24, 2025.
• The litigation follows company disclosures that a September 2025 wet‑material flow trapped seven workers, with two confirmed fatalities and five reported missing as operations were suspended and sales guidance was cut.
• Investors point to stock drops of about 5.9% on September 9, 17% on September 24, and 6.2% on September 25, after reports also highlighted potential strain with Indonesia and an expert’s view that the hazard was a known risk.