|Company Name||Loop Industries, Inc.|
|Class Period||September 24, 2018 to October 12, 2020|
|Motion Deadline||December 14, 2020|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Loop Industries, Inc. (NASDAQ: LOOP). Investors who purchased LOOP stock or other securities between September 24, 2018 and October 12, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email firstname.lastname@example.org or call 617-531-3917. Interested Loop investors have until December 14, 2020 to apply to be a lead plaintiff.
The Complaint states that on October 13, 2020 Hindenburg Research published a report alleging, among other things, (1) that Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process; (2) that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; and (3) that, as a result, Loop was unlikely to realize the purported benefits of its announced key partnerships. It is alleged that on this news, Loop’s share price fell $3.78, or over 32%, damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing theclass action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Loop investors have until December 14, 2020 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.