San Diego, CA -- (SBWIRE) -- 10/17/2023 -- An investor in NASDAQ: PCT shares filed a lawsuit against PureCycle Technologies, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of PureCycle Technologies, Inc. (NASDAQ: PCT) have certain options and for certain investors are short and strict deadlines running. Deadline: November 28, 2023. NASDAQ: PCT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Orlando, FL based PureCycle Technologies, Inc. produces recycled polypropylene.

On September 13, 2023, PureCycle Technologies, Inc. disclosed that "[o]n August 7, 2023, the Ironton Facility experienced a full plant power outage resulting from a severe weather impact to a third party power supplier. Operations resumed but, on September 3, 2023, the Ironton Facility experienced a seal system failure in a key operation . . . . The seal failure required the Ironton Facility to halt operations to assess any damage and the root cause of the seal failure." According to the Complaint, the Company further revealed that it is "unable to eliminate the risk that the restart [procedures] will be unsuccessful, or whether other failures resulting from the August 7, 2023 power outage may be discovered in the future."

Shares of PureCycle Technologies, Inc. (NASDAQ: PCT) declined from $11.73 per share on July 18, 2023, to as low as $4.98 per share on October 5, 2023.

The plaintiff claims that between August 8, 2023 and September 13, 2023, the defendants failed to disclose to investors: (1) that the Ironton Facility experienced a full plant power outage on August 7, 2023; (2) that there was a risk of additional failures resulting from the August 7, 2023 power outage; and (3) 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 PureCycle Technologies, Inc. (NASDAQ: PCT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
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.