A lawsuit was filed on behalf of investors in FMC Corporation (NYSE:FMC) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 11/28/2023 --An investor, who purchased NYSE: FMC shares, filed a lawsuit against FMC Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.

Investors who purchased shares of FMC Corporation (NYSE: FMC) have certain options and for certain investors are short and strict deadlines running. Deadline: January 8, 2024. NYSE: FMC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Philadelphia, PA based FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products.

On July 10, 2023, before the market opened, FMC Corporation, despite raising its full-year revenue guidance in May, 2023, announced that it was cutting its revenue for the second quarter and the 2023 fiscal year. It announced that "the revised guidance is driven by substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners, which only became evident towards the end of May and continued through the remainder of the quarter[.]"

Shares of FMC Corporation (NYSE: FMC) declined from $134.38 per share on December 02, 2022, to as low as $88.77 per share on July 10, 2023.

On September 7, 2023, Blue Orca Capital published a report, alleging that FMC Corporation 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 the Company had concealed from investors. The Blue Orca Report emphasized that the products at issue, patented diamides (a class of insecticide), "account for almost 40% of FMC's. . . revenues" in the past year and an estimated "60+% of reported EBITDA" and that FMC had "concealed from investors that it [had] suffered a recent string of stunning legal defeats around the globe that have enabled competitors to now launch competing generics at prices up to 80% below the price of FMC's flagship insecticide product" and that "contrary to the Company's claims, FMC's process patents do not protect its flagship product from generic competition."

The Blue Orca Report included an analysis of legal proceedings and market conditions in India, China, and Brazil. In addition to identifying a range of market headwinds affecting FMC's prospects in such markets, the Blue Orca Report concluded that FMC and its executives repeatedly made false claims that legal victories had ensured Diamide patent protection for years to come, when, in fact, FMC's legal losses had resulted in a loss of patent protection for its flagship products and cleared the way for generic competition. In short, Defendants repeatedly falsely reassured investors that FMC had not gone over the patent cliff while, in truth, the Company was already in free fall.

On October 23, 2023, FMC Corporation announced that it was again cutting its Q3 2023 outlook and guidance for revenues for Q4 and FY 2024, projecting earnings well below the expectations of analysts, citing substantially lower sales volumes in Latin America, particularly Brazil.

Shares of FMC Corporation (NYSE: FMC) declined from $134.38 per share on December 02, 2022, to as low as $49.49 per share on November 10, 2023.

The plaintiff claims that between November 2, 2022 and October 20, 2023, the Defendants failed to disclose to investors that 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, that the Company 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, and that because of these issues Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of FMC Corporation (NYSE: FMC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.