OCGN - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Chemours and Ocugen and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, April 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of The Chemours Company (NYSE:CC), and Ocugen, Inc. (NASDAQ:OCGN). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
The Chemours Company (NYSE:CC)
Class Period: April 28, 2023 - February 28, 2024
Lead Plaintiff Deadline: May 20, 2024
Headquartered in Wilmington, Delaware, Chemours is an industrial and specialty chemical company for a number of markets including, among others, the "coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas" markets.
After the market closed on February 9, 2023, Chemours announced its fourth quarter and full year 2022 financial results. As is relevant here, Chemours announced Free Cash Flow (defined as cash flows from operations, less purchases of property, plant, and equipment) of $94 million in the fourth quarter of 2022 and $447 million in full year 2022, "demonstrating [Chemours's] continuing ability to generate strong Free Cash Flow."
The following day, February 10, 2023 (the first day of the Class Period), Chemours filed its 2022 annual report on Form 10-K (the "2022 Annual Report") with the SEC and reiterated that it generated Free Cash Flow of $447 million in full year 2022. In connection with the 2022 Annual Report, the Company's CEO Mark Newman and then CFO Sameer Ralhan certified the accuracy of the Company's financial reports and the adequacy of the Company's internal control over financial reporting.
Chemours reported quarterly and year-to-date Free Cash Flow metrics in connection with each of the Company's quarterly financial results throughout the remainder of the Class Period. Each of the Company's quarterly financial reports filed on Form 10-Q during the remainder of the Class Period contained substantially identical certifications to those set forth in the 2022 Annual Report from Chemours's CEO Newman and CFO Ralhan (first quarter of 2023) and CFO Jonathan Lock (second and third quarters of 2023).
Prior to and during the Class Period, Chemours also set and ...