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FMC.US
id: 869
FMC (FMC) Patent Protection Case
E.D. Pennsylvania
Court2:23-cv-04398
Case number11/02/2022
Class period Start10/20/2023
Class period End01/08/2024
Lead Plaintiff motion deadline- FMC allegedly hid reduced patent protection, allowing increased competition from generics.
- On October 23, 2023, the truth came out, leading to a 13% $FMC fall.
The lawsuit claims that FMC misled investors by not revealing that patent protection for its main products was reduced in India, China and Brazil, allowing more competition.
FMC allegedly provided false information about these legal issues and downplayed the impact of generic competition until at least 2026.
This news caused $FMC fall by 13% and $1.1B loss of market cap, damaging shareholders.
Given all this information, investors have reason to suspect that FMC misled them by not disclosing the crucial patent protection information.
Case Status
Motion to dismiss
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/23/2023
Filing date
11/09/2023
Lead Plaintiff Deadline
01/08/2024
Judge
Kai N Scott