{"id":388638,"date":"2020-11-25T12:33:26","date_gmt":"2020-11-25T17:33:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388638"},"modified":"2020-11-25T12:33:26","modified_gmt":"2020-11-25T17:33:26","slug":"scottscott-attorneys-at-law-llp-alerts-investors-to-securities-class-action-against-loop-industries-inc-loop-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/scottscott-attorneys-at-law-llp-alerts-investors-to-securities-class-action-against-loop-industries-inc-loop-2\/","title":{"rendered":"Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP)"},"content":{"rendered":"

<\/p>\n

Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP)<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–Scott+Scott Attorneys at Law LLP<\/a> (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, announces the filing of a class action lawsuit against Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) and certain of its officers and directors, alleging violations of federal securities laws. If you purchased Loop securities between September 24, 2018 and October 12, 2020, inclusive, and have suffered losses, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980 or rswartz@scott-scott.com<\/a> for additional information about your rights.<\/b><\/p>\n

\nThe lawsuit alleges that Loop and the other named defendants issued materially false and\/or misleading information, and failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, according to the complaint: (1) Loop scientists were encouraged to misrepresent the results of Loop\u2019s purportedly proprietary process for recycling plastics; (2) Loop did not have the technology to break PET plastics down to its base chemicals at a recovery rate of 100%; and (3) as a result, the Company was unlikely to realize the purported benefits of Loop\u2019s announced partnerships with Indorama and Thyssenkrupp.\n<\/p>\n

\nOn October 13, 2020, Hindenburg Research (\u201cHindenburg\u201d) published a report describing Loop\u2019s technology for recycling plastics as being \u201csmoke and mirrors.\u201d Having purportedly spoken with multiple former employees, company partners, experts, and competitors during its 6-month investigation, Hindenburg stated that Loop\u2019s scientists had been \u201ctacitly encouraged to lie about the results of the [C]ompany\u2019s process,\u201d that \u201cLoop\u2019s previous claims of breaking PET down to its base chemicals at a recovery rate of 100% were \u2018technically and industrially impossible,\u201d and that Loop\u2019s partnership with Thyssenkrupp was on an \u201cindefinite hold.\u201d\n<\/p>\n

\nOn this news, Loop\u2019s stock price fell sharply from $11.61 per share on October 12, 2020 to close at $7.83 per share on October 13, 2020 \u2013 a drop of more than 32%.\n<\/p>\n

What You Can Do<\/b><\/p>\n

\nIf you purchased or otherwise own Loop stock, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com<\/a>, or visit the Loop page on our website at https:\/\/scott-scott.com\/case\/loop-industries-inc\/<\/a>. The lead plaintiff deadline is December 14, 2020.\n<\/p>\n

About Scott+Scott Attorneys at Law LLP<\/b><\/p>\n

\nScott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.\n<\/p>\n

\nAttorney Advertising\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201125005691\/en\/<\/a><\/span><\/p>\n

Rhiana Swartz
\n<\/b>
Scott+Scott Attorneys at Law LLP
\n<\/a><\/b><\/span>
230 Park Ave, 17th Fl., New York, NY 10169
\n<\/b>
(844) 818-6980
\n<\/b>
rswartz@scott-scott.com<\/a><\/b><\/span><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP) NEW YORK–(BUSINESS WIRE)–Scott+Scott Attorneys at Law LLP (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, announces the filing of a class action lawsuit against Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) and certain of its officers and directors, alleging violations of federal securities laws. If you purchased Loop securities between September 24, 2018 and October 12, 2020, inclusive, and have suffered losses, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980 or rswartz@scott-scott.com for additional information about your rights. The lawsuit alleges that Loop and the other named defendants issued materially false and\/or misleading information, and failed to disclose … <\/p>\n

Continue reading “Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388638","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nScott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/scottscott-attorneys-at-law-llp-alerts-investors-to-securities-class-action-against-loop-industries-inc-loop-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. (LOOP) NEW YORK–(BUSINESS WIRE)–Scott+Scott Attorneys at Law LLP (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, announces the filing of a class action lawsuit against Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) and certain of its officers and directors, alleging violations of federal securities laws. If you purchased Loop securities between September 24, 2018 and October 12, 2020, inclusive, and have suffered losses, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980 or rswartz@scott-scott.com for additional information about your rights. The lawsuit alleges that Loop and the other named defendants issued materially false and\/or misleading information, and failed to disclose … Continue reading "Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Loop Industries, Inc. 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