According to the lawsuit, defendants failed to disclose material adverse facts about PureCycle’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that:
- its first commercial scale recycling facility, the Ironton, Ohio facility, experienced a full plant power outage on August 7, 2023;
- there was a risk of additional failures resulting from the August 7, 2023 power outage; and
- as a result of the foregoing, Defendants’ positive statements about PureCycle’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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