Bala Cynwyd, Pennsylvania--(Newsfile Corp. - April 15, 2024) - Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of The Chemours Company ("Chemours" or the "Company") (NYSE: CC) for possible breaches of fiduciary duty and other violations of federal and state law.
A securities fraud complaint has been filed against Chemours on behalf of investors who purchased shares of Chemours between February 10, 2023, and February 28, 2024. According to the complaint, Chemours and certain of its senior executives made materially false and/or misleading statements about the Company's financial reports and the adequacy of its internal controls over financial reporting.
The filed complaint states that on February 13, 2024, Chemours announced that it was postponing release of the Company's financial results for Q4 2023 and full year ended December 31, 2023. The market response was quick - Chemours common stock dropped more than 12% ($3.85 per share) to close at $26.64 per share on February 14, 2024. On February 29, 2024, Chemours announced 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 were being placed on administrative leave pending an internal review. The stock price plunged a further $9.05 per share, more than 31%, to close at $19.67 per share on February 29, 2024.
The investigation seeks to determine whether members of Chemours' board of directors violated the securities laws and/or breached their fiduciary duties in connection with the allegations leveled in the complaint. If you have owned shares of Chemours stock since at least February 10, 2023, and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, visit https://www.brodskysmith.com/cases/chemours-company-nyse-cc/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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