NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 9, 2019 to file lead plaintiff applications in a securities class action lawsuit against The Chemours Company (NYSE: CC), if they purchased the Company’s shares between February 16, 2017 and August 1, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware.
What You May Do
If you purchased shares of Chemours and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-cc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 9, 2019.
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 August 1, 2019, post-market, the Company disclosed negative financial results for 2Q2019 including decreases in earnings and revenue, a reduction to full-year free cash flow outlook to $100 million from prior guidance of over $550 million, and significant increases in estimated environmental liabilities, including over a dozen new legal and regulatory actions related to toxic perfluoroalkyl and polyfluoroalkyl substances.
On this news, the price of Chemours’ shares plummeted 19% from $18.16 per share on August 1, 2019 to $14.69 on August 2, 2019 on unusually high volume, erasing over $560 million in shareholder value.
The case is Electrical Workers Pension Fund, Local 103, I.B.E.W. v. The Chemours Company, 19-cv-01911.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.