The Newsroom

Investigations  /  10.15.2019

Investigation of The Chemours Company

The Chemours Company (CC) Accused of Misleading Shareholders 

According to the class action complaint for alleged violations of the Securities Exchange Act of 1934, in the 1970s, DuPont’s company scientists became aware that PFAS posed negative health risks, including liver damage and birth defects. To address the mounting liability of PFAS, which were becoming the basis for environmental regulatory actions and governmental prosecutions, in 2015 DuPont spun off Chemours to shift the responsibility of its environmental liabilities onto Chemours.  Chemours concealed these facts and assured investors that liabilities were “well understood [and] well managed” and that it was accurately reserving for its potential liabilities. On May 6, 2019, Glenview Capital Management revealed that Chemours’ environmental liabilities and true PFAS exposure was between $4 billion to $6 billion, dramatically higher than Chemours’ average liability accruals. Then, Chemours’ complaint against DuPont was unsealed revealing that contrary to its public statements concerning the adequacy of its reserves, Chemours had insufficient financial resources to pay for its environmental liabilities.  Finally, on August 1, 2019, Chemours lowered its full-year guidance, reducing its cash flow outlook from over $550 million to just $100 million. Following these disclosures, Chemours’ stock price plummeted 57% and has yet to recover, currently trading at around $14.70 per share.

The Chemours Company (CC) Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can send us a message via the Shareholder Information form below.

Shareholder Information

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns