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.
WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE FMC CLASS ACTION LAWSUIT?
When a securities class action is filed such as the FMC class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the FMC class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE FMC CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the FMC class action lawsuit and file your own separate lawsuit. Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the FMC class action lawsuit.
IF I RECEIVE A SETTLEMENT FROM FINRA CAN I STILL PARTICIPATE IN THE FMC LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you can still participate in the FMC lawsuit.
what is the lead plaintiff process in the FMC class action lawsuit?
If you suffered losses in FMC stock, call an FMC
Stock Loss Lawyer about a FMC class action lawsuit
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 a FMC class actionlawsuit if you suffered losses in FMC stock.
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE FMC CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN FMC stock?
If I Suffered Losses in FMC Stock, What Are 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 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 reformresulting from the litigation.
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against FMCif you suffered losses in FMC stock.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE FMC CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the FMC class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the FMC class action lawsuit include:
Selecting, monitoring, and overseeing Lead Counsel.
Reviewing and commenting on court filings on behalf of the class.
Discussing litigation strategies with the Lead Counsel.
Attending depositions (if necessary) and giving a deposition.
Attending hearings (if necessary).
Participating in mediation and the trial (if necessary).
Provide input on any decision concerning the settlement of the securities class action.
Can I Be Appointed Lead Plaintiff in the FMC Class Action Lawsuit if I Purchased Shares Outside of the Class Period?
Will the Lead Plaintiffs Get More Money than Class Members if the FMC Class Action Lawsuit settles??
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the FMCclass 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.
Can I Be Lead Plaintiff in the FMC class action lawsuit if I am Lead Plaintiff in Another Case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in FMC stock, you may move to be appointed lead plaintiff in the FMC class action Lawsuit.
Can the Court Appoint More than One Lead Plaintiff in the FMC Lawsuit?
How Was the Class Period Determined in the FMC 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 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 class action against FMC.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE FMC LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the FMC lawsuit.
How Can a FMC Stock Loss Lawyer Help Me if I Suffered Losses in FMC Stock?
An FMC stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.