PureCycle Technologies, Inc. (NASDAQ: PCT)
NEW YORK, NY – October 4, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT) securities between August 8, 2023 and September 13, 2023, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than November 28, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
The filed Complaint alleges that on September 13, 2023, the Company 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, the Company 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.”
On this news, the price of the Company’s stock closed on the next trading day, September 14th, at $6.18 per share, a decline of $1.40 per share, on extensively high trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 11/30/2023