Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PureCycle Technologies, Inc. ("PureCycle" or the "Company") (NASDAQ: PCT) investors that a lawsuit filed on behalf of investors that purchased PureCycle securities between August 8, 2023 and September 13, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The filed Complaint claims that the Company announced on September 13, 2023, that they had experienced a significant issue at their Ironton Facility. According to the Company's disclosure, the Ironton Facility had suffered a complete power outage on August 7, 2023, due to severe weather affecting a third-party power supplier. While operations had resumed, on September 3, 2023, the facility encountered a seal system failure in a critical operation. This seal failure forced the Ironton Facility to cease operations temporarily to assess any damage and investigate the root cause of the issue. Additionally, the Company admitted that it could not guarantee the success of the restart procedures or predict whether other problems stemming from the August 7, 2023 power outage might surface in the future.
As a result of this announcement, the Company's stock closed at $6.18 per share on the following trading day, September 14th, marking a decline of $1.40 per share, with notably high trading volume.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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