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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Lowey Dannenberg Investigates Claims on Behalf of Investors of PureCycle Technologies, Inc. ...

June 30, 2021 GMT

NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT). If you are a shareholder of PureCycle with more than $100,000 in losses, you should contact the Firm.

On May 6, 2021, Hindenburg Research, a short-seller, published a report challenging the valuation of the Company. “PureCycle: The Latest Zero-Revenue ESG SPAC Charade, Sponsored By The Worst Of Wall Street” alleges that the SPAC [special purpose acquisition company] sponsors took PureCycle public to make money for themselves while promoting “unproven technology and ridiculous financial projections.” The report also reveals that Hindenburg consulted with a “30-year expert on polymers, with a background in advanced plastics recycling,” and that this expert stated that the Company’s patent is “indirect,” “vague,” and “a regurgitation of prior art.”

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On this news, shares of PureCycle fell by almost 40%, to close at $14.83 on May 6, 2021, thereby injuring investors.

If you are a shareholder of PureCycle who purchased PureCycle securities between November 16, 2020 and May 5, 2021, you have until July 12, 2021, to ask the Court to appoint you as Lead Plaintiff for the class. To participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at  investigations@lowey.com. You can also visit our website at https://lowey.com/cases/purecycle-technologies-inc/.

Whistleblowers: Persons with non-public information regarding PureCycle should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

Contact

Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com