Chemours Co (CC) Executives & Accounting Setbacks Case

D. Delaware

Court

1:24-cv-00361

Case number

02/20/2023

Class period Start

02/28/2024

Class period End

05/20/2024

Lead Plaintiff motion deadline

$CC stockholder filed the initial claim against Chemours for accounting setbacks in Delaware court to recover thier losses. 
On February 29, 2024, The WSJ exposing article sent $CC flying 31% lower, wiping out over $1.33B in shareholder value.
On February 29, 2024, The Wall Street Journal released an article “Chemical Giant Chemours Suspends Top Executives, Opens Accounting Probe.” The article stated that The Chemours Company (CC) said it was putting its top executives on leave and delaying its audited financial filings amid an internal investigation into its bookkeeping, compensation, and ethics hotline reports. The announcement spooked investors who were expecting the Teflon maker to report its latest financial results. Instead, the company’s board of directors said it was working with a law firm to conduct an investigation.

On this news, $CC fell 31.5% and lost over $1.33 billion of its market capitalization, seriously damaging investors.

The first investor has filed the initial claim over this situation in Delaware court to recover thier losses.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

02/29/2024

Filing date

03/21/2024

Lead Plaintiff Deadline

05/20/2024

Chemours Co (CC) Executives & Accounting Setbacks Case

Collecting participants…