NEW YORK, NY / ACCESSWIRE / April 2, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed againstThe Chemours Company ("Chemours" or the "Company") (NYSE:CC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Chemours and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until May 20, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Chemours securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 13, 2024, Chemours issued a press release "announc[ing] that it has postponed the release of its financial results and conference call related to the fourth quarter and full year ended December 31, 2023, which had previously been scheduled for February 14, 2024 and February 15, 2024, respectively" and "currently expects to issue its fourth quarter and full year 2023 financial results after market close on Wednesday, February 28, 2024."
Chemours stated that it "is delaying the release of financial results and the conference call because it needs additional time to complete its year-end reporting process. The Company is evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications. The Company's Audit Committee also needs additional time to complete a related internal review."
On this news, Chemours's stock price fell $3.85 per share, or 12.63%, to close at $26.64 per share on February 14, 2024. Then, on February 28, 2024, Chemours issued a press release announcing that its Board of Directors had "place[d] President and Chief Executive Officer Mark Newman, Senior Vice President and Chief Financial Officer Jonathan Lock and Vice President, Controller and Principal Accounting Officer Camela Wisel on administrative leave", "pending the completion of an internal review being overseen by the Audit Committee of the Board of Directors with the assistance of independent outside counsel". On this news, Chemours's stock price fell sharply during intraday trading on February 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
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