NEW ORLEANS, La., July 11, 2021 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until July 12, 2021 to file lead plaintiff applications in securities class action lawsuits against PureCycle Technologies, Inc. (NasdaqCM: PCT) f/k/a Roth CH Acquisition I Co. (“Roth”) (Nasdaq: ROCH), if they purchased PureCycle and/or Roth securities between November 16, 2020 and May 5, 2021, inclusive (the “Class Period”) and/or were holders of Roth securities entitled to participate in the March 16, 2021 shareholder vote on the merger with PureCycle. These actions are pending in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased and/or held securities of PureCycle and/or Roth as above and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqcm-pct/ to learn more. If you wish to serve as a lead plaintiff in the class actions, you must petition the Courts by July 12, 2021.
About the Lawsuits
PureCycle and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. Specifically, the action alleges that the Company failed to disclose that increases in commodity and freight costs had been negatively impacting the Company’s business and operations. On May 6, 2021, pre-market, Hindenburg Research reported a wide range of criticisms toward the Company related to its prior “going public” transaction with Roth and present position, concluding that the Company “represents the worst qualities of the SPAC boom; another quintessential example of how executives and SPAC sponsors enrich themselves while hoisting unproven technology and ridiculous financial projections onto the public markets, leaving retail investors to face the ultimate consequences.” On this news, shares of PureCycle plummeted more than 40%, or approximately $10 per share, on very unusually high trading volume.
The first-filed case is Theodore v. PureCycle Technologies, Inc., et al., No. 21-cv-809.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC