A securities class action has been filed against The Chemours Company (CC) on behalf of a class of all persons and entities who purchased or otherwise acquired Chemours common stock between February 10, 2023 through February 28, 2024.  This case has been filed in the USDC – DE.

On February 29, 2024, The Wall Street Journal released an article entitled “Chemical Giant Chemours Suspends Top Executives, Opens Accounting Probe.” This article stated, in pertinent part that, “the company said it was putting its top executives on leave and delaying its audited financial filings amid an internal investigation into its bookkeeping, compensation and ethics-hotline reports. The announcement spooked investors who were expecting the Teflon maker to report its latest financial results. Instead, the company’s board of directors said it was working with a law firm to conduct an investigation.”

On this news, Chemours’ stock fell $9.05 per share, or 31.51%, to close at $19.67 per share on February 29, 2024.