Press release
The Chemours Company (NYSE: CC) Investor Notice: Update in Lawsuit
A lawsuit was is pending for certain investors in The Chemours Company (NYSE: CC) shares.
Investors who purchased shares of The Chemours Company (NYSE: CC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On October 09, 2019, a lawsuit was filed against The Chemours Company over alleged violations of Federal Securities Laws. The plaintiff claimed that 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 alleged 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.
On April 3, 2020, a consolidated Complaint was filed and on August 24, 2020, the defendants filed a Motion to Dismiss the consolidated Complaint.
On February 24, 2022, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
Those who purchased shares of The Chemours Company (NYSE: CC) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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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