Securities class action litigation has been filed on behalf of investors who purchased or otherwise acquired FMC Corporation (“FMC” or the “Company”) (NYSE: FMC) common stock between February 9, 2022 and October 30, 2023, inclusive (the “Class Period”).

If you purchased FMC common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 8, 2024.

A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

FMC investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should complete the form below, text or email investorinfo@lchb.com, or call Lieff Cabraser partner Sharon M. Lee at 1-800-541-7358.

FMC is an agricultural sciences company. Its core business involves the sale of patented diamide products, a type of insecticide. The Company relies upon its various patents and other intellectual property to deter competition and to generate revenue.

The action alleges FMC made false and/or misleading statements and/or failed to disclose that it was vulnerable to generic competition in India, China, and Brazil because of a series of legal and regulatory setbacks related to the Company’s patents in those countries, and, as a result, FMC’s business and prospects were much worse than defendants claimed.

On July 10, 2023, before the market opened, the Company announced that it was lowering its guidance for the second quarter and full year 2023. Specifically, for the second quarter, FMC lowered its revenue guidance from between $1.42 billion and $1.48 billion, to between $1.0 billion and $1.03 billion, and reduced its Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”) guidance from between $350 million and $370 million to between $185 million and $190 million. For 2023, the Company lowered its revenue guidance from between $6.08 billion and $6.22 billion to between $5.2 billion and $5.4 billion, and reduced its Adjusted EBITDA guidance from between $1.5 billion and $1.56 billion to between $1.3 billion and $1.4 billion. FMC attributed the lower guidance to “substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners.” On this news, the Company’s stock price declined $11.62 per share, or 11.15%, from its closing price of $104.25 per share on July 7, 2023, to close at $92.63 on July 10, 2023, on elevated trading volume.

On August 2, 2023, FMC issued a press release announcing its second quarter 2023 results in line with its lowered guidance, and confirmed its revised full-year outlook.

On September 7, 2023, before the market opened, investment firm Blue Orca Capital published a report alleging that the Company’s recent legal defeats and regulatory setbacks had enabled competitors to launch competing generics at prices up to 80% below the price of FMC’s flagship insecticide. In addition, according to the report, contrary to the Company’s claims, its process patents did not protect its flagship product from generic competition in India, China, and Brazil. Moreover, the report noted that FMC faced demand issues and downward pricing pressures in Brazil. On this news, the Company’s stock price fell $6.09 per share, or 7.41%, from its closing price of $82.19 per share on September 6, 2023, to close at $76.10 on September 7, 2023, on elevated trading volume.

On October 23, 2023, before the market opened, FMC announced lower guidance for the third quarter, fourth quarter, and full year 2023 largely due to substantially lower sales volumes in Latin America, particularly destocking in Brazil. The Company forecasted $982 million in revenue and Adjusted EBITDA of $175 million for the third quarter and, for the fourth quarter, between $1.139 billion and $1.379 billion in revenue and Adjusted EBITDA of between $246 million and $306 million. For full year, FMC lowered its guidance to between $4.48 billion to $4.72 billion in revenue, and Adjusted EBITDA of between $970 million and $1.03 billion. On this news, the Company’s stock price fell $8.83 per share, or 13.19%, from its closing price of $66.95 per share on October 20, 2023, to close at $58.12 per share on October 23, 2023, on elevated trading volume.

Finally, on October 30, 2023, FMC announced its financial results for the third quarter of 2023, including a 29% revenue decline in the quarter, attributed primarily to reduced customer demand in Brazil. During the Company’s earnings call with analysts and investors, FMC’s Chief Executive Officer, defendant Mark Douglas, stated that the decline was also due to reduced customer demand in Asia, especially in India. On this news, the Company’s stock price fell $4.76 per share, or 8.21%, from its closing price of $57.96 per share on October 30, 2023, to close at $53.20 per share on October 31, 2023, on elevated trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.

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