PureCycle Technologies
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.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 info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
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.
