Hagens Berman Alerts Corcept Therapeutics (CORT) Investors to Investigation of Possible Accounting Irregularities and Securities Law Violations
San Francisco - Hagens Berman Sobol Shapiro LLP alerts investors in Corcept Therapeutics Incorporated (NASDAQ: CORT) of the Firm’s investigation of possible violations of the Federal securities laws. If you purchased or otherwise acquired Corcept Therapeutics securities before February 5, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On January 25, 2019, the Southern Investigative Reporting Foundation (“SIRF”) published a report concluding Corcept is an example of what’s wrong with the healthcare system and questioned whether the Company might be using its speakers bureau program to improperly compensate doctors for prescribing its drug known as Korlym.
In response to this report, the price of Corcept shares fell $1.52, or about 11%, to close at $12.29 on January 25, 2019.
Then, on February 5, 2019, Blue Orca Capital published a report concluding Corcept’s “sole specialty pharmacy and exclusive distributor is an undisclosed related party” and, if true, the relationship “creates the material risk that the Company is using its captured pharmacy to boost sales, hide losses or engage in other financial shenanigans.”
In response, the price of Corcept shares fell as much as $1.06, or over 10%, during intraday trading on February 5, 2019.
“We’re focused on investors’ losses, the matters discussed by SIRF and Blue Orca, and whether senior management might have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Corcept should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CORT@hbsslaw.com.
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Reed Kathrein, 510-725-3000
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