(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.
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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.