CC INVESTOR NOTICE

Robbins Geller Rudman & Dowd LLP Announces that The Chemours Company Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - Seite 2

Then, on February 29, 2024, the Chemours class action lawsuit further alleges that Chemours announced it was delaying the filing of its annual report for 2023 and that its Board of Directors had “place[d] President and Chief Executive Officer Mark Newman, Senior Vice President and Chief Financial Officer Jonathan Lock and Vice President, Controller and Principal Accounting Officer Camela Wisel 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.” According to Chemours, the scope of the investigation “includes the processes for reviewing reports made to the Chemours Ethics Hotline” and Chemours’ “practices for managing working capital, including the related impact on metrics within [Chemours’] incentive plans [and] certain non-GAAP metrics” in Chemours’ financial reports, the complaint further alleges. On this news, the price of Chemours stock fell more than 31%, according to the complaint.

The Chemours class action lawsuit also alleges that on March 6, 2024 Chemours announced, among other things, that the Board’s Audit Committee concluded “that the members of senior management who were placed on administrative leave last week engaged in efforts in the fourth quarter of 2023 to delay payments to certain vendors that were originally due to be paid in the fourth quarter of 2023 until the first quarter of 2024, and to accelerate the collection of receivables into the fourth quarter of 2023 that were originally not due to be received until the first quarter of 2024.” The Audit Committee also revealed that it “found that these individuals engaged in these efforts in part to meet free cash flow targets that [Chemours] had communicated publicly, and which also would be part of a key metric for determining incentive compensation applicable to executive officers.”

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Chemours common stock during the Class Period to seek appointment as lead plaintiff in the Chemours class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Chemours class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Chemours class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Chemours class action lawsuit.