LOS ANGELES, March 7, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz continues its investigation of The Chemours Company ("Chemours" or the "Company") (NYSE: CC) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On February 13, 2024, after the market closed, Chemours disclosed that it was postponing the release of its financial results and conference call related to its fourth quarter and full year 2023. The Company further clarified, stating that it was delaying its results because Chemours is "evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications," and because the Company's Audit Committee "needs additional time to complete a related internal review."
On this news, Chemours' stock price fell $3.81, or 12.6%, to close at $26.42 per share on February 14, 2024, thereby injuring investors.
Then, on February 29, 2024, Chemours announced that its CEO, CFO, and Controller had been placed on "administrative leave" pending the completion of an internal review, including reviewing reports made to the Chemours Ethics Hotline. Additionally, the Company delayed its earnings report and disclosed that it is "evaluating one or more potential material weaknesses in its internal control over financial reporting[.]"
On this news, Chemours' stock price fell $9.05, or 31.5%, to close at $19.67 on February 29, 2024, thereby injuring investors further.
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If you purchased Chemours securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
