Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against PureCycle Technologies, Inc. (PCT)
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LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming November 28, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired PureCycle Technologies, Inc. ("PureCycle" or the "Company") (NASDAQ: PCT) securities between August 8, 2023 and September 13, 2023, inclusive (the "Class Period").

If you suffered a loss on your PureCycle investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/PureCycle-Technologies-Inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

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On September 13, 2023, after the market closed, PureCycle disclosed that its 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, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Ironton Facility experienced a full plant power outage on August 7, 2023; (2) that there was a risk of additional failures resulting from the August 7, 2023 power outage; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased or otherwise acquired PureCycle securities during the Class Period, you may move the Court no later than November 28, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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