We are investigating Sasol Limited (SSL) (“Sasol” or the “Company”) for potential violations of the federal securities laws.
On January 14, 2020, Sasol issued a press release confirming that on January 13, 2020, the Company “experienced an explosion and fire at its LCCP low-density polyethylene (LDPE) unit” of its Lake Charles chemicals project in Louisiana. Sasol stated that “[t]he unit was in the final stages of commissioning and startup when the incident occurred” and “has been shut down and an investigation is underway to determine the cause of the incident, the extent of the damage and resulting impact on the LDPE unit’s [beneficial operation] schedule.” On this news, Sasol’s American depositary receipt price fell $1.70 per share, or 7.84%, over the following two trading days, closing at $19.99 per share on January 15, 2020.