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Feb. 14, 2025 Source: Law Offices of Howard G. Smith Bensalem, PA -- Law Offices of Howard G. Smith 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. 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. Contact Us To Participate or Learn More: If you purchased FMC securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@howardsmithlaw.com Visit our website www.howardsmithlaw.com">here. Tweet |
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