NEW YORK, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential claims against Celanese Corporation (NYSE: CE) on behalf of its stockholders. Our investigation concerns whether Celanese Corp. has violated the federal securities laws and/or engaged in 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.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
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