A lawsuit was filed on behalf of investors in The Chemours Company (NYSE: CC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/24/2019 -- The Shareholders Foundation announced that an investor, who purchased shares of The Chemours Company (NYSE: CC), filed a lawsuit over alleged violations of Federal Securities Laws by The Chemours Company.
Investors who purchased shares of The Chemours Company (NYSE: CC) have certain options and for certain investors are short and strict deadlines running. Deadline: December 9, 2019. NYSE: CC investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Wilmington, DE based The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. The Chemours Company is a spin-off of the Performance Chemicals division of industrial conglomerate E.I. du Pont de Nemours and Company ("DuPont") which began trading as its own public company in 2015. The spin-off was completed pursuant to a Separation Agreement that required Chemours to indemnify DuPont for historic environmental liabilities.
The plaintiff claims that between February 16, 2017 and August 1, 2019, the Defendants misled investors by representing that Chemours had appropriately accounted and accrued reserves for its environmental liabilities, that the possibility of costs exceeding accrued amounts was "remote," and that, in any event, additional costs would not be material. Chemours also assured investors that its "policies, standards and procedures are properly designed to prevent unreasonable risk of harm to people and the environment," and that its "handling, manufacture, use and disposal of hazardous substances are in accordance with applicable environmental laws and regulations."
The plaintiff alleges that a series of disclosures beginning on May 6, 2019 and culminating on August 1, 2019 revealed the truth about the Company's environmental practices, and that Chemours' liabilities were far greater than the Company had represented and that these disclosures included the June 28, 2019 unsealing of a complaint Chemours had filed under seal against DuPont on May 13, 2019, in which Chemours made detailed allegations that its spin-off from DuPont was part a deliberate plan by DuPont to rid itself of significant exposures incurred through decades of PFAS discharge and to unload that responsibility onto Chemours.
Shares of The Chemours Company (NYSE: CC) declined from $58.08 per share in October 2017 to as low as $12.66 per share on August 12, 2019.
Those who purchased shares of The Chemours Company (NYSE: CC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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