PureCycle Technologies, Inc. (PCT) Securities Fraud Class Action

The litigation focuses on PureCycle’s disclosures about the operation of its first commercial-scale recycled pellet production facility in Lawrence County, Ohio (the “Ironton facility”).

More specifically, during Aug. 8 – Aug. 9, 2023, PureCycle assured investors that “the commissioning of Ironton is progressing well,” “Ironton is operational” and “Ironton is running and raising production rates every day.”

The complaint alleges that PureCycle made false and misleading statements and failed to disclose that: (1) the Ironton facility experienced a full plant power outage on Aug. 7, 2023; and (2) there was a risk of additional failures from the outage.

Investors learned the truth on Sept. 13, 2023, when PureCycle disclosed the Aug. 7 power outage.  The company revealed that the outage necessitated a halt to its Ironton operations and required the replacement of a seal that failed due to the outage.  The company also revealed that it initiated restart procedures on Sept. 11, 2023.

This news sent the price of PureCycle shares sharply lower on Sept. 14, 2023.

If you invested in PureCycle and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the PCT securities class-action case about?

The litigation focuses on PureCycle’s disclosures about the operation of its first commercial-scale recycled pellet production facility in Lawrence County, Ohio (the “Ironton facility”). The complaint alleges that PureCycle made false and misleading statements and failed to disclose that: (1) the Ironton facility experienced a full plant power outage on Aug. 7, 2023; and (2) there was a risk of additional failures from the outage.

WHAT SHOULD I DO?

I worked at PCT. What should I do?

If you were an employee of PCT during the period relevant to the class-action case, you may have valuable information that could be relevant to the lawsuit. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower 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, contact Reed Kathrein at 844-916-0895 or PCT@hbsslaw.com.

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICPATE?

Am I affected? What do I need to do to participate?

If you were an investor in PCT during the relevant period specified in the class-action lawsuit, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any PCT investor participate?

In most class-action cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This class-action only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.