The Chemours Company (CC) Stockholder Alert

Robbins LLP Reminds Investors of Class Action Filed Against The Chemours Company

Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired The Chemours Company (NYSE: CC) common stock between February 10, 2023 and February 28, 2024. Chemours is an industrial and specialty chemical company for a number of markets including, among others, the “coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas” markets.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at [phone].

The Allegations: Robbins LLP is Investigating the Allegations that The Chemours Company (CC) Had Deficient Accounting Practices and Procedures

According to the complaint, during the class period, defendants failed to disclose that (1) certain of the Company’s senior executive officers manipulated Free Cash Flow targets as a means to maximize additional cash and stock incentive compensation applicable to executive officers pursuant to the Company’s AIPs and LTIPs, and (2) the Company had deficient accounting practices and procedures, including internal control over financial reporting.

Plaintiff alleges that on February 13, 2024, Chemours "announced that it has postponed the release of its financial results and conference call related to the fourth quarter and full year ended December 31, 2023, which had previously been scheduled for February 14, 2024 and February 15, 2024, respectively,” and that it now “expect[ed] to issue its fourth quarter and full year 2023 financial results after market close on Wednesday, February 28, 2024.” According to the Company, “it needs additional time to complete its year-end reporting process” and “is evaluating its internal control over financial reporting . . . with respect to maintaining effective controls related to information and communications.” Chemours also revealed that it needed additional time for its Audit Committee to conduct a related internal review. On this news, the price of Chemours common stock fell $3.85 per share, or more than 12%, from a close of $30.49 per share on February 13, 2024, to close at $26.64 per share on February 14, 2024.