Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
CC.US
id: 1157
Chemours Co (CC) Executives & Accounting Setbacks Case
The defendant has requested the court to dismiss the case.
D. Delaware
Court1:24-cv-00361
Case number02/20/2023
Class period Start02/28/2024
Class period End05/20/2024
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