The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Celanese Corporation (“Celanese” or “the Company”) (NYSE: CE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Celanese reported its full-year and fourth quarter 2019 financial results on January 30, 2020. The Company reported GAAP diluted earnings per share (“EPS”) of $0.35 and adjusted EPS of $1.99. Chief Financial Officer Scott Richardson commented on the wide discrepancy by claiming it was related to an $89 million reserve booked by the Company based on a European Commission competition investigation into the Company’s subsidiaries. Based on this news, shares of Celanese fell by more than 6% the next day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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