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 mail@shareholdersfoundation.com 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.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
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.
NASDAQ:CORT Investor Alert: Investigation over Potential Wrongdoing at Corcept Therapeutics Incorporated
An investigation on behalf of investors in Corcept Therapeutics Incorporated (NASDAQ:CORT) shares was announced.