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The Chemours Company Has Been Implicated In A Securities Fraud Class Action Lawsuit Heres How Investors Can Get More Information

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5 months ago

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–News Direct–

By Faith Ashmore, Benzinga

The Chemours Company (NYSE: CC) has been under scrutiny for a securities fraud class action lawsuit filed in the United States District Court for the District of Delaware. The action, Taylor Jr. v. The Chemours Company, et al. affects anyone who purchased or acquired Chemours common stock between February 10, 2023, and February 28, 2024.

Chemours, a chemical company, is accused of engaging in misconduct related to its financial reporting. The company claimed to have generated strong Free Cash Flow for the fourth quarter of 2022 and the full year of 2022, which is the amount of cash a company has available after accounting for operational expenses and investments in property and equipment. Chemours reported its Free Cash Flow figures and its CEO and CFO certified the accuracy of the numbers. Chemours also set criteria for executive compensation based on financial targets, including Free Cash Flow targets. Senior executive officers, including the CEO and CFO, were entitled to additional cash compensation and stock-based compensation if these targets were met.

However, on February 13, 2024, Chemours announced a delay in releasing its financial results for the fourth quarter and full year of 2023. The company cited the need for additional time to complete its reporting process and evaluate its internal control over financial reporting. It also revealed that an internal review was being conducted by the audit committee.

As a result of this announcement, the stock price of Chemours fell by over 12%. Then, on February 29, 2024, Chemours further shocked investors by announcing that its CEO, CFO and principal accounting officer were placed on administrative leave. The company disclosed that the investigation involved processes for reviewing reports made to the company's Ethics Hotline and practices for managing working capital, including their impact on incentive plans and certain financial metrics.

Following this revelation, the stock price of Chemours plummeted by more than 31% to the price of $28.72 per share. On March 6, 2024, Chemours announced that the audit committee found evidence that senior management had deliberately delayed payments to vendors and accelerated the collection of receivables to meet Free Cash Flow targets and incentive compensation metrics. Kessler Topaz Meltzer & Check, LLP has filed a class action lawsuit against The Chemours Company based on the admission of the senior managements securities fraud.

Heres How Investors With Losses Can Find Out More Information About Their Rights

Kessler Topaz Meltzer & Check, LLP, located in Radnor, Pennsylvania, has earned a reputation for prosecuting class actions in state and federal courts throughout the U.S. and globally. It has successfully recovered billions of dollars for victims of fraud and other corporate misconduct. The firm is encouraging Chemours investors who have suffered significant losses to directly contact the firm for more information.

To potentially qualify as a lead plaintiff in the Chemours class action lawsuit, investors must take action no later than May 20, 2024. They can move the Court to serve as lead plaintiff either through Kessler Topaz Meltzer & Check, LLP, or other legal counsel. Alternatively, investors can choose to do nothing and remain as absent class members.

A lead plaintiff is a representative party who acts on behalf of all class members in the litigation. This individual or small group of investors typically has the largest financial interest and is considered adequate and typical of the proposed class of investors. The lead plaintiff also selects legal counsel to represent both the lead plaintiff and the class. If the court approves these attorneys, they become lead or class counsel. Applying to become a lead plaintiff does not affect an investor's ability to share in any recovery from the lawsuit.

CLICK HERE to submit your Chemours losses or to contact an attorney to discuss your rights: Jonathan Naji, Esq. (484) 270-1453 or email at info@ktmc.com.

Featured photo by Tasos Mansour on Unsplash.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. This content may be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

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View source version on newsdirect.com: https://newsdirect.com/news/the-chemours-company-has-been-implicated-in-a-securities-fraud-class-action-lawsuit-heres-how-investors-can-get-more-information-473622406

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Altrea Labs Officially Launches Zenboz Modern Monks NFT Collection on Rarible

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7 mins ago

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October 24, 2024

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Los Gatos, CA, USA, 24th October 2024, ZEX PR WIRE, The wait is over: the team at Altrea Labs has officially launched its innovative NFT collection, Zenboz Modern Monks on the Base blockchain, available for minting now on Rarible. This new project merges art and AI tech unlike anything seen before in the NFT space.

Zenboz stands out as the first NFT project to offer a built-in product/utility that is available from day one of the complete collection sellout. This marks a departure from speculative practices, as Altrea Labs prioritizes delivering real-world utility to its users over mere hype.

Zenboz Modern Monks NFT Collection 

Zenboz Modern Monks NFT offers an innovative and unparalleled collection that celebrates the art of being true to oneself. Created by Altrea Labs, Zenboz is a collection of 10,987 unique NFTs that blends retro pixel art with high-resolution canvas, creating a striking aesthetic. This design sets it apart from traditional pixel art PFPs. Each NFT features 19 distinct attributes and over 230 variants. You can explore more about the project on their website blog.

But Zenboz is more than just a pretty NFT collection: it’s about empowering individuals to find inner peace amidst the chaos of life. In a world filled with daily stressors and challenges, finding reliable and uplifting support is crucial. Everyone needs a compassionate and wise companion to guide them with ‘monk-like’ wisdom. This is where ZensAÍ comes in – a custom OpenAI-powered chatbot offering light-hearted wisdom and support for daily struggles. As a friendly companion, ZensAÍ access provides daily motivation with anecdotes, helping users navigate life’s complexities.

The focus on real-world utility sets Zenboz apart from other NFT collections. With Gen-AI incorporation, users can access a unique interactive AI companion that adds more value to their digital collectible.

ZensAÍ: A Personal Companion to Mindfulness and Positivity

ZensAÍ is a unique AI product designed to promote positivity. Unlike other generic AI services, ZensAÍ offers an experience tailored to mindfulness to support the individual’s needs. Users connect to ‘The Highs’ portal using their crypto wallet containing the Zenboz NFT they own and interact for 3 questions daily for every Zenboz NFT owned. This custom OpenAI-powered chatbot serves as a digital zen companion, providing instant wisdom and support for various life situations.

Unique Features of ZensAÍ:

  • Humor and Wit: ZensAÍ combines mindfulness and life advice with humor, making each interaction enjoyable. It draws from a range of references, providing rich, relatable storytelling.
  • Personal Guidance: Tailored to meet your emotional needs, ZensAÍ offers thoughtful, supportive advice that resonates personally.
  • Privacy Focused: ZensAÍ ensures privacy by not storing questions or responses on servers.
  • Instant Support: ZensAÍ acts as a personal companion, offering relentlessly supportive advice and motivation when needed.
  • Daily Positivity: Regular interactions with ZensAÍ promote positive thinking and proactive approaches to life’s challenges.
  • Cost-Effective: Users enjoy ZensAÍ’s benefits without worrying about gas fees, thanks to a business model that covers operational costs through initial sales and resale commissions.

What’s after this for Zenboz Holders? The upcoming launch of Zenboz Modern Monks NFT marks the beginning of AI-driven interactive NFT products. The team is already working on their next project, code-named “Mythical Creatures,” which will build on the AI infrastructure and deliver more engaging, interactive product experiences. Zenboz holders will be crucial in Altrea Labs’ growing universe of art, technology, and immersive experiences.

For now, head over to Rarible and mint yourself a Zenboz Modern Monk NFT to join the exciting journey at the forefront of innovation! 

About Altrea Labs

Altrea Labs combines technology and creativity to tackle real-world user problems through innovative NFTs. Its latest Zenboz Modern Monks project focuses on creating product-backed NFTs with immediate utility for holders upon launch and sellout. It’s also about building a strong community and paving the way for the future of Web3 experiences. The company aims to steadily develop NFT-centric technologies and AI experiences that seamlessly integrate art and technology, focusing on both innovative products and a robust infrastructure to fully embrace the Web3 future.

Anyone curious about the potential of NFTs and their impact beyond just digital assets should pay attention to Altrea Labs. The project’s website and the social pages below offer more information about Atrea Labs’ vision and goals.

Zenboz Mint Page | Zenboz NFT X (Twitter) | Atrea Labs X (Twitter) 

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Foodrella Tteokbokki Captivates Global Taste Buds

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22 mins ago

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October 24, 2024

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Seoul, Korea – 24/10/2024 – (SeaPRwire) – Foodrella, a Korean food brand, has launched a product that allows global consumers to create authentic K-food with a simple recipe.

Once considered a casual snack, tteokbokki has now become deeply embedded in the culinary cultures of the U.S., Europe, and Asia, positioning itself as a pioneer in the globalization of Korean food. Driven by the rising popularity of K-pop and Korean dramas, interest in tteokbokki has surged, especially after K-pop stars were seen enjoying the dish. This has significantly increased demand among international fans eager to experience Korean culture.

In response to this trend, Foodrella’s tteokbokki mix was created to allow consumers to make the dish effortlessly, using just the mix without needing additional seasoning. Since its debut on Amazon, the product has received widespread acclaim from global consumers, offering them an easy way to enjoy K-food at home.

Hanmi F3 Co., Ltd., the manufacturer of Foodrella, was founded in 1987. Specializing in the production of sauces, seasonings, food coatings, beverage bases, bakery & dessert mixes, and pickles, the company primarily caters to the restaurant and cafe franchise sectors. Hanmi F3 is dedicated to quality and safety, earning recognition as a leading domestic food manufacturer, with growing attention in international markets.

Hanmi F3 uses only the finest premium ingredients, ensuring that even with simple processes, its products offer exceptional culinary experiences that add real value to customers’ businesses. The company focuses on providing customized solutions to meet diverse customer needs, while continuously improving products to maintain the highest quality standards.

A representative from Foodrella stated, “We will continue to focus on developing products tailored to global tastes, aiming to establish tteokbokki not just as a snack, but as a dish enjoyed in everyday life by consumers around the world. We plan to expand the market by diversifying both our recipes and product offerings.” The representative also added, “By adopting localized strategies based on the preferences of consumers in different regions, we aim to introduce new tteokbokki products that can be integrated with a variety of local cuisines.”

Related Links

Amazon: https://www.amazon.com/foodrella

Instagram: https://www.instagram.com/foodrella.official/

Kakao: https://pf.kakao.com/_thqNC

Facebook: https://www.facebook.com/foodrella

Media Contact

Brand: Foodrella

Contact: Jason Shin

Email: ssw@foodrella.com

Website: https://foodrella.com

 

The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.

Sectors: Top Story, Corporate News

SeaPRwire provides real time press release distribution for companies and organizations to 6,500+ media outlets & 3.5 million professional desktops in 90 regions. It distributes press releases in different languages, including: IndonesiaFolk, IndoNewswire, SEATribune, IDNewsZone, LiveBerita, DailyBerita, TaiwanPR, SinchewBusiness, AsiaEase, BuzzHongKong, SingapuraNow, TIHongKong, TaipeiCool, TWZip, AsiaFeatured, dePresseNow, THNewson, KULPR, VNFeatured, MENAEntry, HunaTimes, DubaiLite, ArabicDir, BeritaDaring, TekanAsia, JamKopi …

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DIFC continues to drive global action in shaping greener economies – Announces 2nd edition of Future Sustainability Forum in Dubai

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22 mins ago

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October 24, 2024

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  • DIFC’s forum aligns with vision of UAE’s leadership to fast-track the transition to greener economies through sustainable technology, banking and finance, renewable energy, and waste management.
  • Second edition of the Future Sustainability Forum takes place in Dubai on 4 and 5 December.
  • Coinciding with first anniversary of COP28 being held in the UAE, the Forum is a step towards accelerating efforts to meet the Paris Agreement goals and the UN SDGs 2030.

Dubai, UAE, 24th October 2024, ZEX PR WIRE, Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, announces the 2nd edition of the Future Sustainability Forum. Scheduled for 4 and 5 December 2024 at the Madinat Jumeirah, Dubai, the Forum will focus on mobilising sustainable practices, engaging in influential discussions on sustainable development, working towards environmental conservation, social equity and innovation.

The announcement of the 2nd edition of the Forum underscores DIFC’s commitment to advancing UAE sustainability priorities alongside initiatives such as the DIFC Sustainable Finance Catalyst which aims to grow sustainable finance flows from Dubai to USD 100+ billion by 2030.

The Forum coincides with the first anniversary of COP28 being hosted in the UAE and is set to attract over 3,000 participants. The event will mobilise industry leaders, investors, tech disruptors, and policymakers into achieving the United Nations Sustainable Development Goals (SDGs) and contributing to the delivery of the Paris Agreement, whilst aiming to channel investment flows between the global north and south to accelerate climate action.

Alya Al Zarouni, Chief Operating Officer of DIFC Authority and Co-Chair of the Dubai Sustainable Finance Working Group, said, “The DIFC organised Future Sustainability Forum is a vital platform for collaborative action towards a more sustainable future. As the global economic landscape evolves, so must our commitment to responsible and inclusive growth. At DIFC, we are proud to be convening this gathering of industry leaders, innovators, and policymakers to address the most pressing environmental and social challenges of our time. Together, we can forge new pathways to a more resilient and sustainable future for financial services and other important industries.”

Dr Bernd van Linder, Chief Executive Officer of the Commercial Bank of Dubai, the presenting sponsor of the Forum, stated, “Commercial Bank of Dubai is proud to support the UAE’s sustainability ambitions through our participation in the Future Sustainability Forum 2024 as Presenting Sponsor. Our proactive approach in addressing environmental challenges, exemplified by the successful issuance of CBD’s inaugural green bond, demonstrates our alignment with global environmental goals.”

The Forum will address critical sustainability issues across eight core pillars spanning different industries including banking and finance, construction, renewable and future energy, transportation and mobility, manufacturing and production, recycling and waste management, sustainable technology, and agriculture and food production.

In addition to the packed conference agenda that will feature over 100 sustainability and climate action expert speakers, the Forum will bring together the most innovative solutions and service providers from across the global sustainability landscape through the Climate Action & Renewable Energy Expo (CARE).

Government entities in the UAE have spearheaded a range of comprehensive sustainability programmes in the pursuit of a net-zero future. Initiatives such as the Dubai Clean Energy Strategy 2050, the UAE Net Zero 2050 strategic initiative, and the UAE Vision 2070, emphasise on a commitment to renewable energy adoption, water conservation, waste management, and sustainable urban development.

For more information and to register, please visit the Future Sustainability Forum website.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 43,800 professionals working across over 6,150 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC.

For media enquiries, please contact: 

Nivine William | Nisha Celina

Burson | bursonglobal.com

nivine.william@bursonglobal.com | nisha.celina@bursonglobal.com

Rasha Mezher | Dubai International Financial Centre Authority  

Manager, Marketing & Corporate Communications

Rasha.Mezher@difc.ae

 

Hussain AlZaabi | Dubai International Financial Centre Authority

Manager, DIFC Innovation Hub

hussain.alzaabi@difc.ae

Shadi Dawi

Director – PR & Media

+971 55 498 4989

shadi@tresconglobal.com

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