PURECYCLE CLASS ACTION LAWSUIT: A Closer Look at the Legal Battle

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

Introduction

In recent news, the PureCycle class action lawsuit has garnered significant attention. This article aims to provide a comprehensive analysis of the ongoing legal battle surrounding PureCycle Technologies, Inc. a company at the forefront of advanced plastic recycling. We will delve into the details of the case, the allegations made, and the potential implications for the industry and consumers.

Understanding PureCycle Technologies

PureCycle Technologies, based in Orlando, Florida, is a leading company in the field of plastic recycling. Their innovative and patented technology aims to revolutionize the recycling process by transforming discarded polypropylene plastic into a clean, odorless, and high-quality resin. The company's mission is to help tackle the ever-growing plastic waste problem and contribute to a more sustainable future.

Read on to learn more about the legal battle ahead in the PureCycle class action lawsuit including your rights as a class member. 

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 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 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%.

NON-U.S. INVESTORs may SERVE AS LEAD PLAINTIFF class action against purecycle

​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in PureCycle​ stock, they may move the Court to be appointed lead plaintiff in the class action against PureCycle. 

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE PURECYCLE CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in 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. ​

WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE PURECYCLE CLASS ACTION LAWSUIT?

​No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the class action against PureCycle. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the class action against PureCycle on behalf of investors who suffered losses in PureCycle stock. 

CLASS PERIOD DETERMINation 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 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​.  ​

membership in the class action against purecycle

​​If you purchased shares during the class period and suffered losses in PureCycle stock, then you are most likely a member of the class in the class action against PureCycle and may participate in the class action against PureCycle since you suffered losses in PureCycle​ stock.

HOW CAN A PURECYCLE STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN PURECYCLE STOCK?

​​​​​​​​A PureCycle stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals  such as the class action against PureCycle. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional.

While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
​
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].

​Call a PureCycle stock loss Lawyer​ Timothy L. Miles today if you suffered losses in PureCycle stock about the PureCycle class action lawsuit who will fight to recover your suffered losses in PureCycle​ stock.

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 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, 6Class 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