PureCycle Technologies, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at firstname.lastname@example.org.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
1800 Century Park East, Suite 600
Los Angeles, CA 90067
It is alleged in this complaint that PureCycle issued misleading and/or false statements and/or failed to disclose information pertinent to investors. PureCycle is the subject of a report released by Hindenburg Research on May 6, 2021, titled: “PureCycle: The Latest Zero-Revenue ESG SPAC Charade, Sponsored By The Worst Of Wall Street.” According to this report, “PureCycle represents the worst qualities of the [special purpose acquisition company] 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.” Hindenburg’s report continues: “we consulted with a 30-year expert on polymers, with a background in advanced plastics recycling. He told us the company’s patent is ‘indirect’, ‘vague’ and a ‘regurgitation of prior art,” and that “our expert also referred to the company’s flammable pressurized process as a ‘bomb.’” It is also stated in this report that Hindenburg spoke to former employees “who said that PureCycle’s executives based their financial projections on ‘wild ass guessing’, brought companies public far too early, and had deceived investors.” On the same day, shares of PureCycle dropped by almost 40%, based on this news.