| COMPANY |
FutureFuel Corp. |
| COURT |
United States District Court for the Eastern District of Missouri |
| CASE NUMBER |
24-cv-00881 |
| JUDGE |
The Hon. Shirley Padmore Mensah |
| CLASS PERIOD |
August 10, 2023 through May 10, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS AUGUST 23, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Cases Background:
On May 10, 2024, FutureFuel disclosed that it had “identified a correction required to be made to its historical consolidated statements of cash flows for the six months ended June 30, 2023, nine months ended September 30, 2023 and year ended December 31, 2023,” and that financial statements from the affected periods should no longer be relied upon. Further, FutureFuel also concluded that a material weakness existed in the company’s internal control over financial reporting.
On this news, FutureFuel’s stock price fell $0.47, or 8.6%, to close at $5.03 per share on May 13, 2024.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) FutureFuel did not have adequate internal controls; (2) FutureFuel’s financial statements were misstated; and (3) as a result, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.