FMC says short report has ‘misleading,’ ‘factually inaccurate’ statements

FMC Corporation announced that the report published today by short-seller Blue Orca Capital made “misleading and factually inaccurate statements regarding FMC‘s patents for its diamide insecticide technology and inaccurately speculated on the strength of FMC’s business.” “As acknowledged by Blue Orca, it is a biased opinion piece,” the company said. “FMC has always been clear and transparent about its diamide growth strategy. The company has consistently disclosed material developments in diamide litigation in SEC filings. The Blue Orca report contains quotes and information that have been taken out of context, are factually incorrect or do not reflect the multiple dimensions of the FMC diamide growth strategy. FMC is disappointed a short seller firm would publish a misleading report that contains such speculation and factually incorrect statements. FMC will assess the biased, inaccurate report and take appropriate steps.”