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FutureFuel Corp.

Company NameFutureFuel Corp.
Stock SymbolFF
Class PeriodAugust 10, 2023 to May 10, 2024
Lead Plaintiff Motion DeadlineAugust 23, 2024

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, the Company 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, thereby injuring investors.

The complaint filed in this class action 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.

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