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CC.US
id: 1157

Chemours Co (CC) Executives & Accounting Setbacks Case

D. Delaware
Court
1:24-cv-00361
Case number
20 Feb 2023
Class period Start
28 Feb 2024
Class period End
20 May 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.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 February 2024
Filing date
21 March 2024
Lead Plaintiff Deadline
20 May 2024
Collecting participants…

Chemours Co

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies...

    Ticker
    CC.US
    ISIN
    US1638511089
    CIK
    1627223
    Sector
    Basic Materials
    Industry
    Specialty Chemicals
    Country
    USA
    Address
    1007 Market Street, Wilmington, DE, United States, 19801