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PureCycle Technologies, Inc. (NYSE: DOCN) Securities Fraud Class Action

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COMPANY       PureCycle Technologies, Inc. 
COURT United States District Court for the Southern District of New York
CASE NUMBER 23-cv-08605
JUDGE The Hon. John George Koeltl
CLASS PERIOD  August 8, 2023 through September 13, 2023
SECURITY TYPE  Securities

Case Background:

On May 11, 2021 the initial complaint in this securities class action was filed against PureCycle Technologies, Inc. (“PureCycle” or the “Company”) and certain of   PureCycle’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all investors who purchased or acquired PureCycle securities between November 16, 2020 through May 5, 2021, (“Class Period”)  both dates inclusive.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the technology PureCycle licensed from Procter & Gamble is not proven and presents serious issues even at lab scale; (2) the challenges posed by the availability and competition for the raw materials necessary to commercialize the licensed technology are significant; (3) PureCycle’s financial projections are baseless; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Current Status of Case:

On June 4, 2024, the Court issued an Order granting Lead Plaintiffs’ Unopposed Motion for Preliminary Approval of Class Action Settlement and scheduled a Final Settlement Hearing for October 8, 2024.  This action remains ongoing. 

The deadline to file a claim is September 12, 2024.  If you have any questions or need further information about this settlement, you may go to the following website www.strategicclaims.net/purecycle, or you can contact the claims administrator, Strategic Claims Services, at 1-866-274-4004.   

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP:  Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.  If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

Please complete this form relating to your transactions in PureCycle Technologies, Inc. (NASDAQ: PCT) securities between August 8, 2023 and September 13, 2023, both dates inclusive (the “Class Period”).

You may also contact Jonathan Naji, Esq. (484) 270-1453; or you may submit your information via email at info@ktmc.com; or you may click here to print a PDF of this form.

SUBMIT YOUR INFORMATION
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The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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