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Bronstein, Gewirtz & Grossman, LLC Initiates an Investigation into Allegations Against Celanese Corporation (CE) And Encourages Shareholders to Reach Out

CE

NEW YORK CITY, NY / ACCESSWIRE / November 19, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Celanese Corporation ("Celanese" or "the Company") (NYSE:CE). Investors who purchased Celanese securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/CE.

Investigation Details

On November 4, 2024, Celanese issued a press release reporting its financial results for the third quarter of 2024. Celanese's reported earnings adjusted for one-time items in the third quarter were $2.44 per share, compared with a consensus estimate of $2.84 per share. Celanese also reported revenue of $2.65 billion, representing a 2.6% year-over-year decline and falling short of consensus estimates of $2.69 billion. In the press release, Celanese's Chief Executive Officer stated that "[i]n the third quarter, we faced a severely constrained demand environment that, in some cases like auto, degraded swiftly" and cautioned investors that "[w]e expect demand conditions to worsen in the fourth quarter, as automotive and industrial segments react to recent dynamics by seasonally destocking at heavier than normal levels." On this news, Celanese's stock price fell $32.50 per share, or 26.32%, to close at $91.00 per share on November 5, 2024.

What's Next?

If you are aware of any facts relating to this investigation or purchased Celanese securities, you can assist this investigation by visiting the firm's site: bgandg.com/CE. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC



View the original press release on accesswire.com



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