Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud Claims on Behalf of PureCycle Technologies, Inc. (NASDAQ: PCT) Investors

RADNOR, Pa., May 06, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of PureCycle Technologies, Inc. ("PureCycle") PCT.  

PureCycle is a technology leader in recycling polypropylene ("PP") plastic. PureCycle holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company for restoring waste PP into virgin-like resin.

On May 6, 2021, before the markets opened, Hindenburg Research issued a report regarding PureCycle. The report stated that "PureCycle represents the worst qualities of the [special purpose acquisition company] SPAC boom; another quintessential example of how executives and SPAC sponsors enrich themselves while hoisting unproven technology and ridiculous financial projections onto the public markets, leaving retail investors to face the ultimate consequences." The report represented that Hindenburg Research connected with "multiple former employees" of earlier companies that Mike Otworth, PureCycle's Chief Executive Officer, and other associated executives took public before PureCycle, "who said that PureCycle's executives based their financial projections on ‘wild ass guessing', brought companies public far too early, and had deceived investors."

Following this news, PureCycle's stock price is down approximately 36% during intraday trading on May 6, 2021.

If you are a PureCycle investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or please visit the following link to fill out our online form https://www.ktmc.com/purecycle-technologies-inc-investigation?utm_source=PR&utm_medium=Link&utm_campaign=purecycle.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500
info@ktmc.com