NEW YORK, NY / ACCESSWIRE / February 29, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Celanese Corporation ("Celanese" or the "Company") (CE). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Celanese and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 30, 2020, post-market, Celanese reported its full year and fourth quarter 2019 financial results, which included GAAP diluted earnings per share ("EPS") of $0.35 and adjusted EPS of $1.99. Explaining the difference between GAAP and adjusted EPS, Celanese cited, among other things, a reserve related to a European Commission competition law investigation concerning certain Celanese subsidiaries.
On this news, Celanese's stock price fell $6.69 per share, or 6.07%, to close at $103.50 on January 31, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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