An investigation on behalf of investors in Corcept Therapeutics Incorporated (NASDAQ:CORT) shares was announced.
San Diego, CA -- (SBWIRE) -- 05/09/2022 -- Certain directors of Corcept Therapeutics Incorporated are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Corcept Therapeutics Incorporated (NASDAQ: CORT) and currently hold any of those NASDAQ: CORT shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Corcept Therapeutics Incorporated directors breached their fiduciary duties and caused damage to the company and its shareholders.
On March 14, 2019, a lawsuit was filed against Corcept Therapeutics Incorporated over alleged securities laws violations. The plaintiff alleged that the defendants failed to disclose to investors that the Company had improperly paid doctors to promote its drug Korlym, that the Company aggressively promoted Korlym for off-label uses, that the Company's sole specialty pharmacy was a related party, that the Company artificially inflated its revenue and sales using illicit sales practices through a related party, that such practices are reasonably likely to lead to regulatory scrutiny, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On December 6, 2019, a first amended complaint was filed and on March 20, 2020, a second amended complaint was filed.
On May 11, 2020, the defendants filed a motion to dismiss the second amended complaint.
On November 20, 2020, the court issued an order granting defendants' motion to dismiss but gave leave to amend the complaint.
On December 21, 2020, a third amended complaint was filed and on February 19, 2021, the defendants filed a motion to dismiss the third amended complaint.
On August 24, 2021, the court issued an order granting in part and denying in part defendants' motion to dismiss.
Those who purchased shares of Corcept Therapeutics Incorporated (NASDAQ: CORT) have certain options and should contact the Shareholders Foundation.
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