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Kessler Topaz Meltzer & Check, LLP - Important Deadline Reminder for PureCycle Technologies, Inc Investors
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PureCycle commercializes a purification recycling technology, originally developed by The Procter & Gamble Company (“Procter & Gamble”), for restoring waste polypropylene into resin with near-virgin characteristics.
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) the technology PureCycle licensed from Procter & Gamble was not proven and presented serious issues even at lab scale; (2) the challenges posed by the availability and competition for the raw materials necessary to commercialize the licensed technology were significant; (3) PureCycle’s financial projections were baseless; and (4) as a result, PureCycle’s public statements were materially false and misleading at all relevant times.