NEW YORK, Feb. 14, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation into potential securities claims on behalf of shareholders of Celanese Corporation (NYSE: CE) resulting from allegations that Celanese may have issued materially misleading business information to the investing public.
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. Scott Richardson, the Company's Chief Financial Officer, explained this discrepancy was in part related to a $89 million reserve being booked by the company 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.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Celanese's investors. If you purchased shares of Celanese, please visit the firm's website at http://www.rosenlegal.com/cases-register-1772.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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