NEW YORK, June 25, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Missouri on behalf of all persons and entities who purchased securities of FutureFuel Corp. (NYSE: FF) (“FutureFuel” or the “Company”) between August 10, 2023, and May 10, 2024, inclusive (the “Class Period”).
The Complaint in the lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that FutureFuel did not have adequate internal controls, that FutureFuel’s financial statements were misstated and would need to be restated, and as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
The Complaint alleges that when news of the financial restatement became known, the price of FutureFuel stock declined by $0.09, or 1.6%, to close at 5.50 on May 10, 2024. The Complaint further alleges the price of FutureFuel stock then fell a further $0.47, or 8.54%, to close at $5.03 on May 13, 2024. The Complaint also alleges that the stock price of FutureFuel declined by a further $0.06, or 1.19%, to close at $4.97 on May 14. 2024.
The Complaint further alleges, that as a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common shares, Plaintiff and the other Class members have suffered significant losses and damages.
Investors who purchased or otherwise acquired shares of FutureFuel should contact the Firm prior to the August 23, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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