Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT) securities between November 16, 2020 and May 5, 2021, inclusive (the “Class Period”).
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 October 23, 2024, the Court granted Final Approval of the Class Action Settlement. This action has concluded.
Please be advised that the deadline to file a claim was 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: Jon 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.