Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired The Chemours Company (“Chemours”) (NYSE: CC) (1) common stock and/or call options between February 10, 2023 and February 28, 2024, inclusive (the “Class Period”); and/or (2) sold put-options during the Class Period.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) certain of the company’s senior executive officers manipulated Free Cash Flow targets as a means to maximize additional cash and stock incentive compensation applicable to executive officers pursuant to the company’s annual incentive pay and long term incentive pay; (2) the company’s accounting practices and procedures, including its internal control over financial reporting, were deficient; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On October 11, 2024, Defendants filed Motions to Dismiss the Amended Complaint. The Motions have been fully briefed and are pending decision before the Court. The action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.