PURECYCLE SHAREHOLDER ALERT
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In PureCycle To Contact Him Directly To Discuss Their Options
NEW YORK, NY - ( NewMediaWire ) - June 26, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT) and reminds investors of the July 12, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in PureCycle stock or options between November 16, 2020 and May 5, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/PCT.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that PureCycle had: (1) previously brought six other businesses public only to have each implode thereafter, “resulting in 2 bankruptcies, 3 delistings, and 1 acquisition after a ~95% decline[,]” with “[o]ver $760 million in public shareholder capital [being] incinerated in the process”; (2) “based their financial projections” in those other failed companies on “‘wild ass guessing,’ [bringing] companies public far too early, and [having] deceived investors”; and (3) only brought PureCycle public in order to permit that same spurious management team to “collectively position themselves to clear ~$90 million in cash and tradable shares before the company generates a single dime in revenue.”
In response to this news, the price of PureCycle common stock declined by more than 40%, or approximately $10 per share.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PureCycle’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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