5 things you need TO know about the class action against purecycle

If you suffered losses in PureCycle stock contact PureCycle stock loss lawyer Timothy L. Miles about a PureCycle class action lawsuit

introduction to THE CLASS ACTION AGAINST PURECYCLE

The class action against PureCycle 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 class action against PureCycle charges PureCycle and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in PureCycle stock and wish to serve as lead plaintiff in the class action against PureCycle, 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 to learn five things you need to know about the class action against PureCycle.

the allegations in the class action against PureCycle.

​PureCycle develops patented recycling processes which separates color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled polypropylene.

​The class action against PureCycle 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 class action against PureCycle 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 class action against PureCycle alleges that on this news, the price of PureCycle fell more than 18%.

THE LEAD PLAINTIFF PROCESS IN THE class action against PureCycle

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in PureCycle stock to seek appointment as lead plaintiff in the class action against PureCycle. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in PureCycle stock and have further questions, contact PureCycle stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a class action against PureCycle if you suffered losses in PureCycle​​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE class action against PureCycle

Serving as a Lead Plaintiff in the class action against PureCycle has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against PureCycle if you suffered losses in PureCycle​ stock. ​

SHARES purchased OUTSIDE OF THE CLASS PERIOD in the class action against PureCycle

Even if you suffered losses in PureCycle stock, if you purchased or sold securities outside of the Class period, you will not be able to participate in the class action against PureCycle.

How the Class Period was Determined in the class action against PureCycle

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 class action against PureCycle, 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.  

CONTACT A PURECYCLE STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN PURECYCLE STOCK ABOUT A class action against PureCycle

​If you suffered losses in PureCycle stock, contact PureCycle stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against PureCycle. Call today and see what a PureCycle stock loss lawyer could do for you if you suffered losses in PureCycle​ stock.

PureCycle stock loss lawyer Timothy L. Miles

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 National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney 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.

CONTACT
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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