If you purchased or acquired securities investing in FutureFuel stock or options between August 10, 2023 and May 10, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FF.
NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against FutureFuel Corp. (“FutureFuel” or the “Company”) (NYSE: FF) and reminds investors of the August 23, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) FutureFuel did not have adequate internal controls; (2) FutureFuel’s financial statements were misstated; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 10, 2024, after market hours, in an SEC filing, the Company disclosed that "management and the audit committee (the "Audit Committee") of the Board of Directors of the Company, after consultation with RSM, determined on May 8, 2024, that certain of its previously issued financial statements, specifically its previously-issued statements of cash flows: (i) for the year ended December 31, 2023, included in the Original Form 10-K; (ii) for the nine months ended September 30, 2023, included in the Q3.2023 Form 10-Q; and (iii) for the six months ended June 30, 2023, included in the Q2.2023 Form 10-Q, contained errors, should no longer be relied on and should be corrected by restating the affected statements of cash flows by filing the Amendments."
On this news, FutureFuel's stock fell $0.47 per share, or 8.54%, to close at $5.03 per share on May 13, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding FutureFuel’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the FutureFuel class action, go to www.faruqilaw.com/FF or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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