RADNOR, Pa., Feb. 29, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of The Chemours Company (NYSE: CC) (“Chemours”).
On February 13, 2024, during after-market hours, Chemours issued a press release announcing that the company had “postponed the release of its financial results and conference call related to the fourth quarter and full year ended December 31, 2023.” Specifically, Chemours stated that it “is delaying the release of financial results and the conference call because it needs additional time to complete its year-end reporting process. The Company is evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications.”
On this news, Chemours’ stock fell $3.85 per share, or 12.6%, to close at $26.64 per share on February 14, 2024.
Then, on February 29, 2024, Chemours revealed that it had placed 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.” On this news, Chemours stock fell more than 30% to close at $19.74 on February 29, 2024.
If you are a Chemours investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/the-chemours-company-investigation?utm_source=PR&utm_medium=link&utm_campaign=cc&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
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