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INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against FMC Corp. (NYSE: FMC); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel
Globe Newswire 19-Feb-2025 5:13 PM
SAN DIEGO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased or otherwise acquired FMC Corp. (NYSE:FMC) ("FMC" or the "Company") securities between November 16, 2023 and February 4, 2025 (the "Class Period"), charging the Company and certain current and former senior executives with violations of the federal securities laws (collectively, "Defendants").
FMC investors have until April 14, 2025 to seek appointment as lead plaintiff of the FMC class action lawsuit.
If you purchased or acquired FMC securities between November 16, 2023 and February 4, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/fmc/.
You can also contact DiCello Levitt attorneys Brian O'Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
FMC is an agricultural sciences company that develops, markets, and sells insecticides, herbicides, and fungicides that protect crops. The Company markets these products through its own sales organization and through partners, independent distributors, and sales representatives. FMC operates in North America, Latin America, Europe, the Middle East, Africa, and Asia.
The FMC lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business, operations, and prospects throughout the Class Period. Specifically, Defendants failed to disclose that: (1) FMC's channel management initiatives were not progressing as announced; (2) FMC, facing pricing pressure, decided to avoid sales opportunities rather than compete on pricing; and (3) as a result, FMC's inventory in Latin America, Asia, Canada, and Eastern Europe became inflated.
The truth emerged on February 4, 2025, when FMC issued a press release announcing its fourth quarter 2024 financial results, revealing that it had missed its previously announced fiscal year ("FY") 2024 revenue guidance and consensus estimates. In the press release, FMC explained that "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." During the associated earnings call held the same day, Defendants further clarified that "it has become clear that we need to take more aggressive actions to reposition FMC.Above all, [FMC] need[s] to significantly lower [] inventory in the channel much beyond what we were expecting," due to "elevated channel inventories in some countries in LATAM, including Brazil, Asia, including India, as well as Canada and Eastern Europe."
On this news, the price of FMC's stock fell by $18.12, or 33.5%, to close at $35.92 per share on February 5, 2025.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens' rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.
DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal, in addition to its top-tier Chambers and Benchmark ratings. The New York Law Journal also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit www.dicellolevitt.com.
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