Corcept Therapeutics (CORT) Alert: Shareholder Class Action In Part Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel
SAN DIEGO, November 24, 2021, /Globe Newswire/
Johnson Fistel, LLP is investigating potential claims on behalf of Corcept Therapeutics, Inc. (NASDAQ: CORT) against certain of its officers and directors. Specifically, a class-action lawsuit pending in the Northern District of California issued an order denying in part the defendants’ motion to dismiss in the pending securities class action against Corcept.
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (1) Corcept had improperly paid doctors to promote its drug Korlym; (2) Corcept aggressively promoted Korlym for off-label uses; (3) Corcept’s sole specialty pharmacy was a related party; (4) Corcept artificially inflated its revenue and sales using illicit sales practices through a related party; (5) such practices were reasonably likely to lead to regulatory scrutiny; and (6) as a result, defendants’ positive statements about Corcept’s business, operations, and prospects were materially misleading and lacked a reasonable basis.
If you are a current, long-term shareholder of Corcept holding shares before August 2, 2017, you may have standing to hold Corcept harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
Additionally, if you have owned Corcept’s shares since before August 2, 2017, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
If you have owned Corcept’s shares since before August 2, 2017, you can [Click here to join this action]. There is no cost or obligation to you.