NEW ORLEANS – A shareholder alleges the vice chairman of the board for a mining company violated securities laws.
J D Jordan filed a complaint on Oct. 19 in the U.S. District Court for the Eastern District of Louisiana against James Flores and Freeport McMoran alleging violation of the Securities Exchange Act.
According to the complaint, the plaintiff alleges that plaintiff suffered damages for not recovering short-swing insider trading profits purportedly realized by defendant Flores in the amount of $117,590. The plaintiff holds Flores and Freeport McMoran responsible because the defendant Flores allegedly failed and refused to disgorge any profits allegedly earned through short-swing insider trading.
The plaintiff requests a trial by jury and seeks judgment against defendant Flores in an amount to be determined at trial, plus interest and such other relief as the court may deem proper. The plaintiff is representing himself.
U.S. District Court for the Eastern District of Louisiana Case number 2:16-cv-15715