Investigation Overview
June 8, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Chemours Co (NYSE:CC) shares over potential securities laws violations by Chemours and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Chemours Co (NYSE:CC) concerning whether a series of statements by Chemours regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Chemours Co reported that its annual Total Revenue declined from over $7.36 billion in 2012 to over $5.71 billion in 2015 and that its Net Income of over $1 billion in 2012 decreased to a Net Loss of $90.00 million in 2015.
Shares of Chemours Co (NYSE:CC) grew from $3.14 per share in January 2016 to $10.44 per share on May 17, 2016.
On June 2, 2016, a report was released asserting that Chemours Co, a spin-off from DuPont, is the most morally and financially bankrupt company that we have ever witnessed. The report further alleges that Chemours Co is just the latest chapter in a well documented 60+ year pattern of wanton and deliberate abuse of humanity, the environment and now the capital markets. The report also alleges that Chemours Co is responsible for dumping a toxic chemical known as C8, aka PFOA, into the drinking water of millions of people; and, therefore can face very large future liabilities.
Shares of Chemours Co (NYSE:CC) declined on June 2, 2016, to as low as $7.52 per share.
On June 6, 2016, NYSE:CC shares closed at $8.48 per share.