Gibbs Law Group has announced that a class action lawsuit has been filed against the Chemours Company, on behalf of investors who purchased or acquired shares between February 10, 2023, and February 28, 2024. The lawsuit alleges that Chemours had deficient accounting practices and internal control over financial reporting.
Investors who have invested in Chemours are advised to visit the Gibbs Law Group website or call their toll-free number to learn more about participating in the lawsuit and the potential benefits. The investigation is focused on determining whether Chemours violated federal securities laws by providing false or misleading statements to investors.
The investigation was initiated after Chemours announced a delay in the release of its Q4 and full-year 2023 financial results to evaluate its internal control over financial reporting. Subsequently, Chemours placed its CFO, CEO, and Controller and Principal Accounting Officer on administrative leave pending an internal review into accounting practices and controls. This news led to a significant drop in the company’s stock price.
On March 27, 2024, Chemours released its Q4 and full-year 2023 results, revealing that the Audit Committee had completed its internal review. The review found a lack of transparency with the company’s Board of Directors by three former members of senior management and identified four material weaknesses in internal control over financial reporting. Following this disclosure, Chemours’ stock price dropped by over 9%.
Gibbs Law Group is a firm that represents investors in securities litigation to address corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered significant amounts for its clients and its attorneys have received various honors for their work in the field.
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Contact:
Eileen Epstein
Phone: 510.350.9728
Email: [email protected]
Source: [Business Wire](https://www.businesswire.com/news/home/20240328927824/en/)
The Chemours Company, the target of the class-action lawsuit by Gibbs Law Group, operates in the chemical industry. Chemours is a global leader in titanium technologies, fluoroproducts, and chemical solutions. They produce and supply a wide range of industrial products and innovative solutions across various sectors, including automotive, electronics, coatings, and plastics.
The chemical industry, as a whole, has seen significant growth in recent years. The increasing demand for chemicals in different end-use industries, such as construction, automotive, and consumer goods, has been a major driving force. Additionally, the rising population and urbanization have contributed to the growth of the industry.
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For more information about the chemical industry and related topics, you can visit reputable sources such as the American Chemistry Council’s website: American Chemistry Council or the International Council of Chemical Associations: International Council of Chemical Associations. These sources provide valuable insights into industry trends, market forecasts, and regulatory updates.