Moore Kuehn, PLLC Encourages FMC Corporation Investors to Contact Law Firm
NEW YORK, Dec. 1, 2023 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
* FMC Corporation (NYSE: FMC)
It has been alleged FMC and certain of its executives failed to disclose material information during the Class Period, violating federal securities laws.
On September 7, 2023, Blue Orca Capital reported that the Company had made a series of false statements about the status of patent protections for its flagship products following legal defeats in India, China, and Brazil, that allowed competitors to launch competing generic products at much lower prices. On this news, the price of FMC's shares dropped more than 7.4%, to close at $76.10 per share, representing approximately $630 million in investor losses, on high trading volume.
Then, on October 23, 2023, the Company disclosed further cuts to its Q3 2023 outlook and guidance for revenues for Q4 and FY 2024, projecting earnings well below analysts' expectations, citing substantially lower sales volumes in Latin America. On this news, the price of FMC's shares plummeted by $8.83 per share, or 12.18%, to close at $58.12 per share.
The alleged false and/or concealed statements include: (1) the diminishment of patent protection for FMC's flagship products following legal defeats in key markets including India, China, and Brazil had opened the door to increased competition from generics; (2) the Company repeatedly mislead investors about the status of such proceedings and falsely claimed that it did not and would not face generic competition in key markets until 2026 at the earliest; and (3) because of these issues, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you own FMC Corporation (NYSE: FMC) please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.
Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245
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