SAN FRANCISCO, CA / ACCESSWIRE / May 12, 2021 / Hagens Berman updates investors in the following publicly-traded companies and urges investors who have suffered significant losses to contact the firm. Further details about the cases, including important upcoming deadlines, can be found at the links provided.
CCXI Investors Click Here.
PCT Investors Click Here.
PTON Investors Click Here.
ChemoCentryx, Inc. (NASDAQ:CCXI) Securities Fraud Class Action:
Class Period: Nov. 26, 2019 - May 3, 2021
Lead Plaintiff Deadline: July 6, 2021
Visit: http://www.hbsslaw.com/investor-fraud/CCXI
Contact An Attorney Now: [email protected]
844-916-0895
The lawsuit focuses on ChemoCentryx's statements about its new drug application ("NDA") for its vasculitis drug candidate Avacopan.
Beginning on Nov. 25, 2019, ChemoCentryx touted positive topline data from its Pivotal Phase III ADVOCATE trial demonstrating Avacopan's superiority over standard of care in ANCA-associated vasculitis and that the trial met both of its primary endpoints. This and subsequent positive announcements sent the price of CCXI soaring.
The complaint alleges ChemoCentryx concealed that: (1) the trial's study design was flawed; (2) data from the trial raised serious safety concerns; and (3) these issues presented a substantial concern about the viability of ChemoCentryx's NDA.
On May 4, 2021, the truth emerged when the FDA announced it had identified several areas of concern, including "uncertainties about the interpretability of the data and the clinical meaningfulness of these results." In addition, the document took issue with the complex trial design and the lack of long-term safety data.
This news drove the price of ChemoCentryx shares crashing over 45% lower on May 4, 2021, wiping out as much as $1.5 billion of the company's market capitalization.
"We're focused on investors' losses and proving ChemoCentryx misled investors about Avacopan's efficacy and safety," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a ChemoCentryx investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
PureCycle Technologies, Inc. (NASDAQ:PCT) Securities Fraud Action:
Class Period: Nov. 16, 2020 - May 5, 2021
Lead Plaintiff Deadline: July 12, 2021
Visit: www.hbsslaw.com/investor-fraud/PCT
Contact An Attorney Now: [email protected]
844-916-0895
The case centers on Defendants' repeated false claims that PureCycle is an environmental, social and governance ("ESG") company that is commercializing a proven patented purification recycling technology developed by Proctor & Gamble for restoring waste polypropylene into resin with near-virgin characteristics.
The complaint alleges Defendants concealed that (1) the licensed P&G technology is not proven and has serious issues even at lab level, (2) challenges posed by competition for- and availability of- raw materials necessary for successful commercialization of the technology are significant, and (3) PureCycle's financial projections are baseless.
The truth emerged on May 6, 2021, when analyst Hindenburg Research published a scathing report entitled "PureCycle: The Latest Zero-Revenue ESG SPAC Charade, Sponsored By The Worst Of Wall Street." Among other things, Hindenburg challenges the validity of PureCycle's technology and purported access to feedstock to run PCT process economically. Hindenburg also takes issue with PureCycle's aggressive financial projections, its purported recycling partnerships with well-known companies like L'Oreal and Total, and the track record of the SPAC sponsors.
In response to this news, the price of PureCycle shares crashed lower.
"We're focused on investors' losses and proving PureCycle engaged in greenwashing," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a PureCycle investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Peloton Interactive, Inc. (NASDAQ:PTON) Securities Fraud Class Action:
Class Period: Sept. 11, 2020 - May 5, 2021
Lead Plaintiff Deadline: June 28, 2021
Visit: www.hbsslaw.com/investor-fraud/PTON
Contact An Attorney Now: [email protected]
844-916-0895
The complaint alleges Peloton misled investors by misrepresenting and concealing that (1) Peloton was focused on safety, (2) Peloton's Tread+ caused a serious safety threat to children and pets as there were multiple incidents of injury to both, including death, and (3) despite knowledge of the dangers posed by Tread+, defendants did not recall or suggest halting its use.
Investors began to learn the truth on Apr. 17, 2021, when the U.S. Consumer Product Safety Commission urgently warned consumers to stop using the Tread+ after finding one death and dozens of incidents of children being sucked under the Tread+. The next day, CEO John Foley announced Peloton had no intention of recalling or to stop selling the Tread+, calling the CPSC's warning "inaccurate and misleading."
Then, on May 5, 2021, Peloton issued a recall of its Tread+ and admitted it was wrong to call the CPSC's warning "inaccurate and misleading."
These events caused Peloton shares to decline sharply.
"We're focused on investors' losses proving Peloton deceived investors about the dangers posed by Tread+," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Peloton investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding ChemoCentryx, PureCycle and/or Peloton 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 844-916-0895 or email [email protected], [email protected], and/or [email protected].
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Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP