NYSE
SQM

Chemical and Mining Company of Chile Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Chemical And Mining Company Of Chile Inc. (NYSE: SQM)

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the American Depository Shares (“ADSs”) of Chemical and Mining Company of Chile Inc. (“SQM” or the “Company”) (NYSE: SQM) between March 4, 2014 and March 17, 2015, inclusive (the “Class Period”), alleging violations of the Securities Act of 1933 against the Company and certain of its officers (the “Complaint”).

If you purchased ADSs of SQM during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) money from SQM was channeled illicitly to electoral campaigns for the Independent Democratic Union (“UDI”), Chile’s largest conservative party; (2) the Company lacked adequate controls over financial reporting; and (3) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.  As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on February 26, 2015, the Company issued the first of a series of disclosures, linking it to the UDI scandal.  Then, on March 11, 2015, SQM disclosed that its Board of Directors would meet to evaluate a request by the Public Prosecutor for delivery of certain information pertaining to the alleged bribery scandal.  Finally, on March 16, 2015, the Company announced that it had turned over information requested by the Public Prosecutor, pursuant to the previous request.  Moreover, the Company also announced that the Board had agreed to terminate CEO Patricio Contesse, effective immediately.  In prior weeks, Contesse had attempted to block the Company’s decision to turn over the documents.

On this news, ADSs in SQM dropped over 15%, closing at $18.65 per share on March 18, 2015, on heavy trading volume of over 11.3 million shares.

If you wish to serve as lead plaintiff, you must move the Court no later than May 18, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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