We are investigating Sasol Limited (SSL) (“Sasol” or the “Company”) for potential violations of federal securities laws.
On August 16, 2019, the Company announced that it was delaying the announcement of its financial results for fiscal year 2019 due to a possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. Additionally, the Company announced that the Lake Charles project, which initially was expected to cost $8.9 billion, has experienced delays and rising costs. As a result cost guidance for the project has skyrocketed to at least $12.6 billion. Lastly, the Company announced that will delay the start of an ethane cracker at the project due to a technical glitch related to a large heat exchanger. On this news, Sasol’s stock price fell sharply on August 16, 2019.