NEW YORK, NY / ACCESSWIRE / November 7, 2023 / Pomerantz LLP is investigating claims on behalf of investors of PureCycle Technologies, Inc. ("PureCycle" or the "Company") (NASDAQ:PCT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether PureCycle and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 13, 2023, after the market closed, PureCycle disclosed that its commercial-scale recycling facility (the "Ironton Facility") experienced a full plant power outage on August 7, 2023, which required the Ironton Facility to halt operations. The Company further disclosed that it replaced a seal that purportedly failed as a result of the power outage, and initiated facility restart procedures on September 11, 2023.
On this news, PureCycle's stock price fell $1.395, or 18.4%, to close at $6.18 per share on September 14, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
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