SHAREHOLDER ALERT: Robbins LLP Investigates PureCycle Technologies, Inc. (PCT) on Behalf of Shareholders
Retrieved on:
Friday, November 5, 2021
Shareholder rights law firm Robbins LLP announces that it is investigating PureCycle Technologies, Inc. (Nasdaq: PCT) to determine whether certain Purecycle officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company.
Key Points:
- Shareholder rights law firm Robbins LLP announces that it is investigating PureCycle Technologies, Inc. (Nasdaq: PCT) to determine whether certain Purecycle officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company.
- PureCycle is a recycling company and its technology separates color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled polypropylene.
- The Company expected revenues to ramp up to $224 million in 2023 with its first five plants and $800 million in 2024.
- On this news, the Company's share price fell more than 40%, or approximately $10 per share, on May 6, 2021.