Shares of The Chemours Company (“Chemours”) dropped over 31% on February 29, 2024, after the company announced that it has placed three top executives on administrative leave pending the completion of an internal review. The company also announced it is delaying the release of its financial results. Gibbs Law Group is investigating a potential Chemours Company Securities Class Action Lawsuit on behalf of shareholders who lost money in The Chemours Company (NYSE: CC).
What Should Chemours Investors Do?
If you invested in Chemours, visit our website by clicking here, or call us toll-free at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Chemours has violated federal securities laws by providing false or misleading statements to investors.
What is the Chemours Company Securities Lawsuit Investigation About?
After the market closed on February 13, 2024, Chemours announced that it was delaying the release of its fourth quarter and full year 2023 financial results in part because it needed to evaluate its internal control over financial reporting as of December 31, 2023.
Then, on February 29, 2024, Chemours announced that it was placing its CFO, CEO, Controller and Principal Accounting Officer on administrative leave pending the completion of an internal review into accounting practices and controls. Additionally, the company stated that it is delaying its Q4 and full year 2023 earnings release and conference call, as well as the release of its annual earnings report (Form 10-K).
Following Chemours’ announcement, the stock plummeted over 31% on February 29th, causing significant harm to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229642267/en/
Contacts
EILEEN EPSTEIN
510.350.9728
EJE@CLASSLAWGROUP.COM
