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FF.US
id: 1272

FutureFuel (FF) Poor Financial Controls Case

E.D. Missouri
Court
4:24-cv-00881
Case number
10 Aug 2023
Class period Start
10 May 2024
Class period End
23 Aug 2024
Lead Plaintiff motion deadline
  • $FF stockholders filed a claim vs. FutureFuel for hiding problems with its financial controls.
  • On May 10, 2024, following the corrections to the financial statements, $FF fell 10.3%.
  • FutureFuel investors can join this case to be notified about potential recovery.
Case Details:

In their 2023 financial report, FutureFuel stated they “evaluated the effectiveness of the design and operation of disclosure controls and procedures”.

However, on May 10, 2024, FutureFuel filed an SEC report disclosing corrections to its previously issued financial statements.

The company revealed a major weakness in its financial reporting controls, specifically in how they reported "Other assets."

The press release stated that due to these corrections, their financial statements for June, September, and December 2023 are unreliable.

On this announcement, $FF fell 10.3%.

Based on these events, a $FF stockholder filed a claim against FutureFuel and its leaders, accusing them of the following:
  • FutureFuel overstated the accuracy of its financial reports and internal controls.
  • The company hid serious issues that led to major corrections.
Considering all the representations, investors have reasons to suspect that FutureFuel overstated its financial accuracy and hid poor financial controls.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 May 2024
Filing date
24 June 2024
Lead Plaintiff Deadline
23 August 2024
Judge
Shirley Padmore Mensah
Collecting participants…

FutureFuel Corp

FutureFuel Corp., together with its subsidiaries, manufactures and sells diversified chemical, bio-based fuel, and bio-based specialty chemical products in the United States. The company operates t...

    Ticker
    FF.US
    ISIN
    US36116M1062
    CIK
    1337298
    Sector
    Basic Materials
    Industry
    Specialty Chemicals
    Country
    USA
    Address
    8235 Forsyth Boulevard, Saint Louis, MO, United States, 63105