NEW ORLEANS, Nov. 14, 2023 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 8, 2024 to file lead plaintiff applications in a securities class action lawsuit against FMC Corporation (NYSE: FMC), if they purchased or otherwise acquired the Company’s shares between November 2, 2022 and October 20, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased shares of FMC and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-fmc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 8, 2024.
About the Lawsuit
FMC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 7, 2023, Blue Orca Capital reported that the Company had made a series of false statements about the status of patent protections for its flagship products following legal defeats in India, China, and Brazil, that allowed competitors to launch competing generic products at much lower prices. On this news, the price of FMC’s shares dropped more than 7.4%, to close at $76.10 per share, representing approximately $630 million in investor losses, on high trading volume.
Then, on October 23, 2023, the Company disclosed further cuts to its Q3 2023 outlook and guidance for revenues for Q4 and FY 2024, projecting earnings well below analysts’ expectations, citing substantially lower sales volumes in Latin America. On this news, the price of FMC’s shares plummeted by $8.83 per share, or 12.18%, to close at $58.12 per share.
The case is Heeg v. FMC Corporation, et al., 23-cv-4938.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
