{"id":395964,"date":"2020-12-08T19:03:10","date_gmt":"2020-12-09T00:03:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395964"},"modified":"2020-12-08T19:03:10","modified_gmt":"2020-12-09T00:03:10","slug":"deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-loop-industries-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-loop-industries-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Loop Industries, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Loop Industries, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Loop Industries, Inc. (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020 (the \u201cClass Period\u201d). Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nOn October 13, 2020, Hindenburg Research published a report alleging, among other things, that \u201cLoop\u2019s scientists, under pressure from CEO Daniel Solomita, were tacitly encouraged to lie about the results of the company\u2019s process internally.\u201d The report also stated that \u201cLoop\u2019s previous claims of breaking PET down to its base chemicals at a recovery rate of 100% were \u2018technically and industrially impossible,\u2019\u201d according to a former employee. Moreover, the report alleged that \u201cExecutives from a division of key partner Thyssenkrupp, who Loop entered into a \u2018global alliance agreement\u2019 with in December 2018, told us their partnership is on \u2018indefinite\u2019 hold and that Loop \u2018underestimated\u2019 both costs and complexities of its process.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $3.78, or over 32%, to close at $7.83 per share on October 13, 2020.\n<\/p>\n

\nThe complaint, filed on October 13, 2020, 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\u2019s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that Loop scientists were encouraged to misrepresent the results of Loop\u2019s purportedly proprietary process; (2) that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) that, as a result, the Company was unlikely to realize the purported benefits of Loop\u2019s announced partnerships with Indorama and Thyssenkrupp; and (4) that, as a result of the foregoing, defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nIf you purchased Loop securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:
\n
<\/b>Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201208006096\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.com<\/a><\/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":"

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Loop Industries, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Loop Industries, Inc. (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020 (the \u201cClass Period\u201d). Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On October 13, 2020, … <\/p>\n

Continue reading “DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Loop Industries, Inc. and Encourages Investors to Contact the Firm”<\/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-395964","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDEADLINE ALERT: Bragar Eagel & Squire, P.C. 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