NEW ORLEANS, April 5, 2024 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 20, 2024 to file lead plaintiff applications in a securities class action lawsuit against The Chemours Company (NYSE: CC), if they purchased or otherwise acquired the Company’s shares between February 10, 2023, and February 28, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware.
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Chemours investors should visit us at https://www.claimsfiler.com/cases/nyse-cc-2 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Chemours and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 29, 2024, pre-market, the Company disclosed that the filing of its annual report for 2023 was delayed, that it “is evaluating one or more potential material weaknesses in its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to the control environment, including the effectiveness of the ‘tone at the top’ set by certain members of senior management.” and that its President/CEO, Senior VP/CFO, and Vice President, Controller and Principal Accounting Officer had been placed on administrative leave “pending the completion of an internal review being overseen by the Audit Committee of the Board of Directors with the assistance of independent outside counsel.”
On this news, the price of Chemours’ shares fell $9.05 per share, or more than 31%, from a close of $28.72 per share on February 28, 2024, to close at $19.67 per share on February 29, 2024.
The case is Taylor Jr. v. The Chemours Company, et al., No. 24-cv-00361.
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