{"id":396647,"date":"2020-12-09T12:03:23","date_gmt":"2020-12-09T17:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396647"},"modified":"2020-12-09T12:03:23","modified_gmt":"2020-12-09T17:03:23","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/","title":{"rendered":"DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. (LOOP)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">BENSALEM, Pa., Dec.  09, 2020  (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith\u00a0reminds investors of the upcoming\u00a0<strong>December 14, 2020 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qMXdzphAcu0Ko78ByNpXoYDoIRXAqB1_azwiZSECwQ5kVPqm1WaShtf2rebVBBQG1060WuAIw5nnnIlw0Xfiyg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>LOOP<\/u><\/a>) securities between <strong>September 24, 2018 and October 12, 2020<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>Investors suffering losses on their Loop investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qPiC9SzhLpj2k9JqIK-MaI8F-Uk6c2jY_LKV8ZH0Xdl504UdTlra0j6UE6DqV_Ip848ApwWpEXu71g6Zym1_k2n9WiL67N7R7GvnTJKx2Y1MWasHdcHGfx_A8Uo5e0M6\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>.<\/p>\n<p>On 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<\/p>\n<p>On this news, Loop\u2019s share price fell $3.78, or over 32%, to close at $7.83 per share on October 13, 2020, thereby damaging investors.<\/p>\n<p>The complaint filed 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:\u00a0(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.<\/p>\n<p>If you purchased Loop securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania, 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qPiC9SzhLpj2k9JqIK-MaI8F-Uk6c2jY_LKV8ZH0Xdk4LT2-1mXbrSavc2OysKvb5vtJgxncZRHIkVGcPqQ-SQXd-ZMJzFBi2GiGGI9fwR8zg_lUvFwR8iKMq-RjmQrD\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=M1FR4F8GRNg_mjnw8m2qspPTC4DZBKdf3Jl-52G-gRaQC0qRVyd0fFYb5ruD1jAmImfCfdxGdf_xhJsyLFO63_pTywaf99rTOP5qV5SzJRM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/a>.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts<\/strong><br \/>\n        <br \/>Law Offices of Howard G. Smith<br \/>Howard G. Smith, Esquire<br \/>215-638-4847<br \/>888-638-4847<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qPiC9SzhLpj2k9JqIK-MaI8F-Uk6c2jY_LKV8ZH0XdkrzVC-0IDWrm6DWgNkvvPHo88Wup7baogvdntu9tfwf2s19ATRl-H-GMM1Q4Z8hLE7kd-A81BlDkZ00shHenJO\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=M1FR4F8GRNg_mjnw8m2qspPTC4DZBKdf3Jl-52G-gRalUwHkWnIu4jnJpoAVyrqP-sKmitt7SFmhBu4oUYosrLwyLGtK6ee3LFMNgndtBXg=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTA1MSMzODYyNjY3IzIwMjA0MzI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/a3ac2f81-1ea6-4bae-9516-ff48a87e10d2\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BENSALEM, Pa., Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith\u00a0reminds investors of the upcoming\u00a0December 14, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Loop investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. (LOOP)&#8221;<\/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-396647","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit 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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. (LOOP) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BENSALEM, Pa., Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith\u00a0reminds investors of the upcoming\u00a0December 14, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Loop investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On 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 &hellip; Continue reading &quot;DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. 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Smith\u00a0reminds investors of the upcoming\u00a0December 14, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Loop Industries, Inc. (\u201cLoop\u201d or the \u201cCompany\u201d) (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Loop investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On 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 &hellip; Continue reading \"DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. (LOOP)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-09T17:03:23+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTA1MSMzODYyNjY3IzIwMjA0MzI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-loop-industries-inc-loop-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"DEADLINE REMINDER: Law Offices of Howard G. 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