NEW YORK, NY / ACCESSWIRE / August 28, 2024 / Pomerantz LLP is investigating claims on behalf of investors of The Chemours Company ("Chemours" or the "Company") (NYSE:CC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Chemours and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 1, 2024, Chemours issued a press release reporting its financial results for the second quarter of 2024. Among other items, Chemours reported non-GAAP earnings per share of $0.38, missing consensus estimates by $0.20. The Company advised that it "anticipates a low to mid-single digit sequential decline in Net Sales for the third quarter," citing "[r]esidual impacts from Q2 unplanned downtime at our Altamira, Mexico manufacturing site" in its Titanium Technologies segment; "[r]efrigerant seasonality paired with weaker Freon™ Refrigerants pricing in its Thermal & Specialized Solutions segment; and "[a] continued modest recovery in" its Advanced Performance Materials segment.
On this news, Chemours's stock price fell $2.77 per share, or 11.88%, to close at $20.54 per share on August 2, 2024.
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SOURCE: Pomerantz LLP