An investigation on behalf of investors in Corcept Therapeutics Incorporated (NASDAQ:CORT) shares over potential wrongdoing at Corcept Therapeutics Incorporated was announced.
San Diego, CA -- (SBWIRE) -- 08/18/2020 -- 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 email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Corcept Therapeutics directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 25, 2019, a report was published concluding Corcept Therapeutics Incorporated is an example of what's wrong with the healthcare system and questioned whether the Company might be using its speakers bureau program to improperly compensate doctors for prescribing its drug known as Korlym.
On January 31, 2019, Corcept Therapeutics Incorporated forecast a sharp slowdown in sales of Korlym, projecting full-year 2019 revenue of $285 million to $315 million while investors and analysts had expected approximately $328 million.
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."
On March 14, 2019 a lawsuit was filed against Corcept Therapeutics Incorporated over alleged violations of Federal Securities Laws. The plaintiff claimed that between August 2, 2017 and February 5, 2019, 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.
Those who purchased shares of Corcept Therapeutics Incorporated (NASDAQ: CORT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.