The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased FMC Corporation (“FMC” or the “Company”) (NYSE: FMC) securities between November 16, 2023 and February 4, 2025, inclusive (the “Class Period”). FMC investors have until April 14, 2025 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR FMC CORPORATION INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.
You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.
What Happened?
On February 4, 2025, after the market closed, FMC released its fourth quarter 2024 financial results, revealing that it had missed its previously announced full fiscal year revenue guidance as well as consensus estimates. FMC explained “growth was below [the Company’s] expectations as [it] learned during the quarter that customers in many countries sought to hold significantly less inventory than they have historically.” The Company also provided a Full Year 2025 outlook, disclosing that it expects revenue to remain essentially flat due to “weaker demand in the channel as customers in many countries prioritize holding lower-than-historical levels of inventory.” In an earnings call held the same day, the Company disclosed it “need[s] to significantly lower FMC inventory in the channel much beyond what we were expecting.”
On this news, FMC’s stock price fell $18.12, or 33.5%, to close at $35.92 per share on February 5, 2025, on unusually heavy trading volume.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s channel management initiatives were not progressing as represented; (2) that, faced with pricing pressure, the Company had made the decision not to compete on prices and instead walk away from sales opportunities; (3) that, as a result, the Company had inflated inventory in the channels in “LATAM, including Brazil, Asia, including India, as well as Canada and Eastern Europe;” and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired FMC securities during the Class Period, you may move the Court no later than April 14, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Telephone: 310-914-5007
Email: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250214323306/en/
Law Offices of Frank R. Cruz Encourages FMC Corporation (FMC) Investors To Inquire About Securities Fraud Class Action
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
