NEW YORK, NY / ACCESSWIRE / August 28, 2024 / Pomerantz LLP is investigating claims on behalf of investors of The Chemours Company ("Chemours" or the "Company") (NYSE:CC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Chemours and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 1, 2024, Chemours issued a press release reporting its financial results for the second quarter of 2024. Among other items, Chemours reported non-GAAP earnings per share of $0.38, missing consensus estimates by $0.20. The Company advised that it "anticipates a low to mid-single digit sequential decline in Net Sales for the third quarter," citing "[r]esidual impacts from Q2 unplanned downtime at our Altamira, Mexico manufacturing site" in its Titanium Technologies segment; "[r]efrigerant seasonality paired with weaker Freon™ Refrigerants pricing in its Thermal & Specialized Solutions segment; and "[a] continued modest recovery in" its Advanced Performance Materials segment.
On this news, Chemours's stock price fell $2.77 per share, or 11.88%, to close at $20.54 per share on August 2, 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.
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SOURCE: Pomerantz LLP
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