Philadelphia, Pennsylvania--(Newsfile Corp. - November 16, 2023) - A securities fraud lawsuit has been filed against PureCycle Technologies, Inc. ("PureCycle") (NASDAQ: PCT). The lawsuit is captioned Southgate v. PureCycle Technologies, Inc., No. 1:23-cv-08605 (S.D.N.Y.) and is filed on behalf of purchasers of PureCycle's securities between August 8, 2023 and September 13, 2023, inclusive (the "Class Period").
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Investors who purchased or acquired PureCycle securities during the Class Period may, no later than November 28, 2023, seek to be appointed as a lead plaintiff representative of the class.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) the Ironton Facility experienced a full plant power outage on August 7, 2023; (2) there was a risk of additional failures resulting from the August 7, 2023 power outage; and (3) as a result of the foregoing, the defendants' positive statements about PureCycle's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at [email protected] or (267) 637-3176, or Andrew Abramowitz at [email protected] or (215) 875-3015 or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
James Maro, Senior Counsel
Andrew Abramowitz, Senior Counsel
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