Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Middle District of Florida on behalf of shareholders of PureCycle Technologies, Inc. (NasdaqCM: PCT) f/k/a Roth CH Acquisition I Co. (Nasdaq: ROCH), who purchased shares between November 16, 2020 and May 5, 2021.
PureCycle and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 6, 2021, pre-market, Hindenburg Research reported a wide range of criticisms toward the Company related to its prior “going public” transaction with Roth and present position, concluding that the Company “represents the worst qualities of the 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.”
On this news, shares of PureCycle plummeted more than 40%, or approximately $10 per share, on very unusually high trading volume.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 12, 2021 to request that the court appoint them lead plaintiff.