The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Middle District of Florida on behalf of shareholders of PureCycle Technologies, Inc. who purchased shares between November 16, 2020 and May 5, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) the technology PureCycle licensed from Procter & Gamble is not proven and presents serious issues even at lab scale; (ii) the challenges posed by the availability and competition for the raw materials necessary to commercialize the licensed technology are significant; (iii) PureCycle’s financial projections are baseless; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 12, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.