Loop Industries, Inc.

(LOOP) Alert: Johnson Fistel Investigates Loop Industries; Investors Suffering Losses Encouraged to Contact Firm

SAN DIEGO, October 13, 2020 /PRNewswire/ —

Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Loop Industries, Inc. (“Loop or the “Company”) (NASDAQ: LOOP). Loop focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks.

On October 13, 2020, Hindenburg Research issued a report titled “Loop Industries: Former Employees and Plastics Experts Blow The Whistle On This Recycled Smoke And Mirrors Show.” Hindenburg Research detailed a series of alarming red flags about Loop. Specifically, the report stated, that Loop’s stated technology breakthroughs are “fiction.” Additionally, the report claimed, “A former Loop employee told us that Loop’s scientists, under pressure from CEO Daniel Solomita, were tacitly encouraged to lie about the results of the company’s process internally. We have obtained internal documents and photographs to support their claims.”
Following this news, the price of Loop common shares fell in early morning trading on October 13, 2020, down over 35%.

If you have information that could assist in this investigation, including past employees and others, or if you are a Loop shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.

Additionally, 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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

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