Compass Minerals to Pay $12m to Settle Claims, US SEC Says

Compass Minerals International was ordered to pay $12m to settle claims that it misled investors and failed to properly assess some financial risks, the US SEC said.

• Compass claimed a technology upgrade at its Goderich mine would reduce costs, but in reality, had increased costs, according to the SEC
• Co. also failed to properly assess financial risks of mercury contamination by one of its former facilities near the Botafogo River in Brazil, the SEC said
• Compass, without admitting to the findings, agreed to cease and desist from further violations of the antifraud, reporting, and internal controls provisions of the Securities ...