Archived Investigations

The Chemours Company (NYSE: CC)

Company Name:The Chemours Company
Stock Symbol:NYSE: CC
Court:District of Delaware
Class Period Start:02/10/2023
Class Period End (inclusive):02/28/2024
Filing Deadline:The deadline has passed.
March 21, 2024

Chemours and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On February 29, 2024, pre-market, the Company disclosed that the filing of its annual report for 2023 was delayed, that it “is evaluating one or more potential material weaknesses in its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to the control environment, including the effectiveness of the ‘tone at the top’ set by certain members of senior management.” and that its President/CEO, Senior VP/CFO, and Vice President, Controller and Principal Accounting Officer had been placed 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.”

On this news, the price of Chemours’ shares fell $9.05 per share, or more than 31%, from a close of $28.72 per share on February 28, 2024, to close at $19.67 per share on February 29, 2024.

The case is Taylor Jr. v. The Chemours Company, et al., No. 24-cv-00361.

Click here to read the first filed complaint.