Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating certain directors and officers of The Chemours Company (“Chemours”) (NYSE: CC) for breaching their fiduciary duties to Chemours and its shareholders. If you are a Chemours shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott is investigating whether members of Chemours’s board of directors made, or allowed Chemours to make, false and/or misleading statements and/or failed to disclose that: (1) Chemours had not appropriately accounted and accrued reserves for environmental liabilities; (2) the possibility of costs exceeding accrued amounts was greater than Chemours had represented to a point that could be material; (3) Chemours’s policies, standards, and procedures were not properly designed to prevent unreasonable risk of harm to people and the environment; (4) Chemours’s handling, manufacture, use, and disposal of hazardous substances was not in accordance with applicable environmental laws and regulations; and (5) as a result, Chemours’s public statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On May 6, 2019, investors began to learn the truth about Chemours’s improper accounting through a series of partial disclosures, including the June 28, 2019, unsealing of a complaint Chemours filed against DuPont Inc. revealing that Chemours faced over $2.5 billion in environmental liabilities. Then, on August 1, 2019, Chemours announced quarterly earnings and disclosed significant increases to its estimated environmental liabilities, including many new legal and regulatory actions related to perfluoroalkyl and polyfluoroalkyl substances.
On this news, Chemours’s share price fell $3.47, or over 19%, to close at $14.69 per share on August 2, 2019.
What You Can Do
If you are a Chemours shareholder, you may have legal claims against Chemours’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or email@example.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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