The Chemours Company (NYSE: CC)

This lawsuit is for anyone who acquired securities in The Chemours Company (NYSE: CC) from February 10, 2023 through February 28, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors by telling investors that the Company had proper internal controls to prevent data leaks when the Company lacked such controls.

On February 13, 2024, after the market closed, Chemours disclosed that it was postponing the release of its financial results and conference call related to its fourth quarter and full year 2023. The Company further clarified, stating that it was delaying its results because Chemours is “evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications,” and because the Company’s Audit Committee “needs additional time to complete a related internal review.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on February 29, 2024, Chemours announced that its CEO, CFO, and Controller had been placed on “administrative leave” pending the completion of an internal review, including reviewing reports made to the Chemours Ethics Hotline. Additionally, the Company delayed its earnings report and disclosed that it is “evaluating one or more potential material weaknesses in its internal control over financial reporting[.]” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in The Chemours Company (NYSE: CC) from February 10, 2023 through February 28, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.