Taking a deep dive into the FMC CLASS ACTION LAWSUIT

If you suffered losses in FMC stock, contact FMC stock loss lawyer Timothy L. Miles about a FMC class action lawsuit

introduction

In this comprehensive guide, we take a deep dive into the FMC class action lawsuit, including a hard look at FMC, its leadership, Board of Directors, and stock performance, followed by a synopsis of the FMC class action lawsuit. 

OVERVIEW OF FMC

Description of FMC

​FMC Corporation, a company that specializes in agricultural sciences, produces a variety of products that help with crop protection, plant health, and professional pest and turf management. Their range of products includes insecticides, herbicides, fungicides, biologicals, crop nutrition, and seed treatment products, which are used to enhance crop quality and yield by controlling insects, weeds, and diseases in both agricultural and non-agricultural markets. The company distributes their products through their own sales organization, alliance partners, independent distributors, and sales representatives in North America, Latin America, Europe, the Middle East, Africa, and Asia. Founded in 1883, the company is headquartered in Philadelphia, Pennsylvania.

Leadership at FMC

FMC is led by Mark A. Douglas, its President and Chief Executive Officer (CEO).  Other key executives at FMC include:​

• Brian P. Angeli: Vice President, Corporate Strategy and Precision Agriculture
• Brian Blair: Vice President and Treasurer
• Bill Chester: Vice President, Global Tax
• Barry J. Crawford: Vice President, Operations
• Julie DiNatale: Vice President, Chief Sustainability Officer
• Bénédicte Flambard, Ph.D.: Vice President, Plant Health
• Kenneth A. Gedaka: Vice President, Communications and Public Affairs
• Thaisa Hugenneyer: Vice President, Procurement, Logistics & Global Facilities
• David A. Kotch: Vice President, Chief Information Officer
• Susanne Lingard: Vice President, Regulatory Affairs
• Ronaldo Pereira: Executive Vice President and President, FMC Americas
• Nicholas L. Pfeiffer: Vice President, Corporate Controller and Chief Accounting Officer
• Sebastià Pons: Vice President and President, FMC Europe, Middle East, Africa
• Michael F. Reilly: Executive Vice President, General Counsel and Secretary
• Seva Rostovtsev, Ph.D.: Vice President and Chief Technology Officer
• Andrew D. Sandifer: Executive Vice President and Chief Financial Officer
• Jacqueline Scanlan: Executive Vice President and Chief Human Resources Officer
• Pramod Thota: Vice President and President, FMC Asia Pacific
• Shawn Whitman: Vice President, Government Affairs
• Diane Allemang: Executive Vice President and Chief Marketing Officer

FMC's Board of Directors

• Pierre R. Brondeau:   Chairman of the FMC Board and previously was its CEO from January 2010 until May 2020. He is also Chair of the Executive Committee.

• Eduardo E. Cordeiro:  Former Executive Vice President, Chief Financial Officer, and President, Americas Region, of Cabot Corporation, a global specialty chemicals and performance materials company.  He is also Chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee and Executive Committee (Alternative).

 

• John Davidson:  Former Senior Vice President, Controller and Chief Accounting Officer of Tyco International. Chair of the Nominating and Corporate Governance Committee and Member of the Audit Committee; Audit Committee Financial Expert.

 

• Mark A. Douglas:  President and CEO, FMC Corporation and Member of the Executive Committee.

 

• Kathy L. Fortmann: CEO of Acomo Amsterdam Commodities N.V., a Euronext Amsterdam listed natural food ingredients company and Member of the Compensation and Organization Committee and a Member of the Nominating and Corporate Governance Committee.

 

• C. Scott Greer:  Retired Principal, Greer and Associates, a private investment management firm. Member of the Executive Committee (Lead Director) and Member of the Nominating and Corporate Governance Committee.

 

• K’Lynne Johnson:  Former CEO, President and Executive Chair of Elevance Renewable Sciences Inc., a global specialty chemicals company. Chair of the Compensation Committee;  Member of the Executive Committee;  Member of the Sustainability Committee.

 

• Dirk A. Kempthorne: Retired President and CEO, American Council of Life Insurers. Chair of the Sustainability Committee and Member of the Compensation Committee.

 

• Margareth Øvrum: Retired Executive Vice President, Development & Production Brazil of Equinor ASA, an international oil and gas exploration and production company, and President of Equinor Brazil. Member of the Sustainability Committee and Member of the Nominating and Corporate Governance Committee.

 

• Robert C. Pallash: Retired President, Global Customer Group and Senior Vice President of Visteon Corporation, an automotive parts manufacturer. Member of the Audit Committee and Member of the Sustainability Committee.

 

• Patricia Verduin, Ph.D.:  Former, Chief Technology & Science Officer, Colgate Palmolive Company. Member of the Compensation and Organization Committee and Member of the Sustainability Committee.​

FMC's Stock Performance

FMC currently trades at approximately $52.72 per share with a 52 Week Range of $40.49 - $134.38.  The company has a daily average trading volume of 1,952,754 with a market capitalization of 6.58 billion. It has a one-year target estimate of $70.11; a PE Ratio (TTM) of 11.22; and an EPS (TTM) of 4.70.

BACKGROUND TO THE FMC CLASS ACTION LAWSUIT

The FMC class action lawsuit seeks to represent purchasers or acquirers of FMC Corporation (NYSE: FMC) common stock between November 2, 2022 and October 20, 2023 (the “Class Period”).  Captioned Heeg v. FMC Corporation, No. 23-cv-04398 (E.D. Pa.), the FMC class action lawsuit charges FMC and certain of its top executive officers with violations of the​​ Securities Exchange Act of 1934.
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If you suffered losses in FMC stock and wish to serve as lead plaintiff in the FMC class action lawsuit, please contact FMC Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the FMC class action lawsuit must be filed with the court no later than January 8, 2024.

ALLEGATIONS IN THE FMC CLASS ACTION LAWSUIT

FMC is an agricultural sciences company and chemical manufacturer specializing in the production of patented crop protection products.  According to the FMC class action lawsuit, intellectual property and patent protections are a critical component of FMC’s business, particularly when it comes to generating earnings and maintaining market share in key markets abroad.

The FMC class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (i) 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; and (ii) FMC 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.

The FMC class action lawsuit further alleges that on July 10, 2023, FMC revised downward its 2023 earnings before interest, taxes, depreciation, and amortization guidance as well as its earnings per share guidance. On this news, the price of FMC’s stock declined more than 11%, according to the complaint.

The FMC class action lawsuit also alleges that on September 7, 2023, Blue Orca Capital published a report alleging that FMC and its executives had made a series of false statements about the status of patent protections for FMC’s flagship products following legal defeats in India, China, and Brazil that FMC had concealed from investors.  On this news, the price of FMC’s stock declined more than 7%, according to the complaint.

​The FMC class action lawsuit additionally alleges that on October 23, 2023, FMC announced that it was again cutting its third quarter of 2023 outlook and guidance for revenues for the fourth quarter and fiscal year 2024, projecting earnings well below the expectations of analysts, citing substantially lower sales volumes in Latin America, particularly Brazil.  On this news, the price of FMC’s stock declined more than 12%, according to the complaint.

THE LEAD PLAINTIFF PROCESS IN THE FMC CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in FMC stock to seek appointment as lead plaintiff in the FMC class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in FMC stock and have further questions, contact FMC​ stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in an FMC class action lawsuit if you suffered losses in FMC​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE FMC CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in the FMC class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against FMC​​ if you suffered losses in FMC stock. 

THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE FMC CLASS ACTION LAWSUIT SETTLES

However, they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the FMC class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the FMC class action lawsuit on behalf of investors who suffered losses in FMC​ stock. 

THE COURT may APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE FMC CLASS ACTION LAWSUIT

​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the FMC class action lawsuit.

CLASS PERIOD DETERMINation IN THE FMC CLASS ACTION LAWSUIT

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the FMC class action lawsuit, you must have suffered losses in FMC stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the FMC class action lawsuit.  ​

HOW MUCH CAN you GET OUT OF THE FMC CLASS ACTION LAWSUIT?

​​​In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in FMC stock. Contact an FMC stock loss lawyer who could explain your losses in greater detail if you suffered losses in FMC ​stock. 

CONTACT AN FMC STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN FMC STOCK ABOUT A FMC CLASS ACTION LAWSUIT

​If you suffered losses in FMC stock, contact FMC stock loss lawyer Timothy L. Miles today for a free case evaluation about an FMC class action lawsuit. Call today and see what an FMC stock loss lawyer could do for you if you suffered losses in FMC​ stock.

FMC stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator, and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, Class Action:  Class Action: Top 100 National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022).  Mr. Miles has published over three hundred articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or Resources center and call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529