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If you suffered losses in PureCycle stock contact PureCycle stock loss lawyer Timothy L. Miles about a PureCycle class action lawsuit
The PureCycle class action lawsuit seeks to represent purchasers or acquirers of PureCycle Technologies, Inc. (NASDAQ: PCT) securities between August 8, 2023 and September 13, 2023, inclusive (the “Class Period”). Captioned Southgate v. PureCycle Technologies, Inc., No. 23-cv-08605 (S.D.N.Y.), the PureCycle class action lawsuit charges PureCycle and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in PureCycle stock and wish to serve as lead plaintiff in the PureCycle class action lawsuit, please contact PureCycle Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the PureCycle class action lawsuit must be filed with the court no later than November 28, 2023.
Read on for answers to four frequently asked questions about the PureCycle class action lawsuit.
what are the ALLEGATIONS IN THE PURECYCLE CLASS ACTION LAWSUIT?
PureCycle develops patented recycling processes which separates color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled polypropylene.
The PureCycle class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) PureCycle’s first commercial-scale recycling facility (the “Ironton Facility”) experienced a full plant power outage on August 7, 2023; and (ii) there was a risk of additional failures resulting from the August 7, 2023 power outage.
The PureCycle class action lawsuit further alleges that on September 13, 2023, PureCycle disclosed that “[o]n August 7, 2023, the Ironton Facility experienced a full plant power outage resulting from a severe weather impact to a third party power supplier. Operations resumed but, on September 3, 2023, the Ironton Facility experienced a seal system failure in a key operation . . . . The seal failure required the Ironton Facility to halt operations to assess any damage and the root cause of the seal failure.” According to the complaint, PureCycle further revealed that it is “unable to eliminate the risk that the restart [procedures] will be unsuccessful, or whether other failures resulting from the August 7, 2023 power outage may be discovered in the future.” The PureCycle class action lawsuit alleges that on this news, the price of PureCycle fell more than 18%.
HOW WAS THE CLASS PERIOD DETERMINED IN THE PURECYCLE CLASS ACTION LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the PureCycle class action lawsuit, you must have suffered losses in PureCycle stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against PureCycle.
IF I SUFFERED LOSSES IN PURECYCLE STOCK, HOW MUCH CAN I GET OUT OF THE PURECYCLE CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit such as the PureCycle class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in PureCycle stock. Contact a PureCycle stock loss lawyer who could explain your losses in the PureCycle class action lawsuit in greater detail.
IF I SUFFERED LOSSES IN SUFFERED LOSSES IN PURECYCLE STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE PURECYCLE CLASS ACTION LAWSUIT SETTLES?
If there is a settlement in the PureCycle class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold PureCycle stock during the class period and suffered losses in PureCycle stock.
The court will hold a final hearing in the PureCycle class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the PureCycle lawsuit.
CONTACT A PURECYCLE STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN PURECYCLE STOCK ABOUT A PURECYCLE CLASS ACTION LAWSUIT
If you suffered losses in PureCycle stock, contact PureCycle stock loss lawyer Timothy L. Miles today for a free case evaluation about a PureCycle class action lawsuit. Call today and see what a PureCycle stock loss lawyer could do for you if you suffered losses in PureCycle stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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