SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corcept Therapeutics Incorporated - CORT

Saturday, March 16, 2019 General News
Email Print This Page Comment bookmark
Font : A-A+

NEW YORK, March 15, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Corcept Therapeutics

Incorporated ("Corcept" or the "Company") (NASDAQ: CORT).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether

Corcept and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here to join a class action] 

On January 25, 2019, Southern Investigative Reporting Foundation ("SIRF") published a report alleging that Corcept paid doctors to prescribe its drug Korlym for off-label uses. 

Following publication of the SIRF report, Corcept's stock price fell $1.52 per share, or more than 11%, to close at $12.29 per share on January 25, 2019. 

On January 31, 2019, Corcept forecast a sharp slowdown in sales of Korlym, projecting full-year 2019 revenue of $285 million to $315 million, significantly lower than investor and analyst expectations of $328 million

On this news, Corcept's stock price fell $1.15 per share, or more than 10%, to close at $10.03 per share on February 1, 2019. 

On February 5, 2019, Blue Orca Capital published a report alleging that Corcept's "sole specialty pharmacy and exclusive distributor is an undisclosed related party" and that the relationship "creates a material risk that the Company is using its captured pharmacy to boost sales, hide losses, or engage in other financial shenanigans." 

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com

 

Cision View original content:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-corcept-therapeutics-incorporated---cort-300813442.html

SOURCE Pomerantz LLP



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store