openPR Logo
Press release

Lawsuit filed for Investors in shares of Loop Industries, Inc. (NASDAQ: LOOP)

10-20-2020 07:23 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Loop Industries, Inc. (NASDAQ: LOOP) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Loop Industries, Inc. (NASDAQ: LOOP) shares over alleged securities laws violations.

An investor, who purchased shares of Loop Industries, Inc. (NASDAQ: LOOP), filed a lawsuit i over alleged Securities Laws violations by Loop Industries, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Loop Industries, Inc. (NASDAQ: LOOP) have certain options and for certain investors are short and strict deadlines running. Deadline: DECEMBER 14, 2020. NASDAQ: LOOP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 13, 2020, a report was published alleging, among other things, that “[a] former Loop employee told us that Loop’s scientists, under pressure from CEO Daniel Solomita, were tacitly encouraged to lie about the results of the company’s process internally. We have obtained internal documents and photographs to support their claims.” The report also stated that “Loop’s previous claims of breaking PET down to its base chemicals at a recovery rate of 100% were ‘technically and industrially impossible,’” according to a former employee. Moreover, the report alleged that “Executives from a division of key partner Thyssenkrupp, who Loop entered into a ‘global alliance agreement’ with in December 2018, told us their partnership is on ‘indefinite’ hold and that Loop ‘underestimated’ both costs and complexities of its process.”

The plaintiff claims that between September 24, 2018 and October 12, 2020, the Defendants failed to disclose to investors that Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process, that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%, that, as a result, the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama and Thyssenkrupp, 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 Loop Industries, Inc. (NASDAQ: LOOP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Loop Industries, Inc. (NASDAQ: LOOP) here

News-ID: 2166070 • Views: 534

More Releases from Shareholders Foundation

Investigation announced for Investors in shares of Greenrose Holding Company Inc …
An investigation was announced over potential securities laws violations by Greenrose Holding Company Inc. in connection with certain financial statements. Investors who purchased shares of Greenrose Holding Company Inc. (OTC: GNRS), 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 focuses on possible claims on behalf of purchasers of the securities of Greenrose Holding Company Inc. (OTC: GNRS)
NASDAQ: AYTU Investor Notice: Investigation over potential Securities Laws Viola …
Aytu BioScience, Inc is under investigation concerning potential securities laws violations in connection with certain financial statements. Investors who purchased shares of Aytu BioScience, Inc. (NASDAQ: AYTU), 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 focuses on possible claims on behalf of purchasers of the securities of Aytu BioScience, Inc. (NASDAQ: AYTU) concerning whether a series of
Investigation announced for Long-Term Investors in shares of The Boston Beer Com …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of The Boston Beer Company, Inc. Investors who are current long term investors in The Boston Beer Company, Inc. (NYSE: SAM) 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 for current long term investors in The Boston Beer Company, Inc. (NYSE:
Lawsuit filed for Investors in American Century Capital Portfolios, Inc. (TWVLX, …
An investor, who purchased shares of American Century Capital Portfolios, Inc. (TWVLX, AVLIX, AVUYX, TWADX, ACLCX, AVURX, AVUGX, and AVUDX)), filed a lawsuit over alleged violations of Federal Securities Laws by American Century Capital Portfolios, Inc. ("American Century" or "The Fund"). Investors who purchased shares of American Century Capital Portfolios, Inc. (TWVLX, AVLIX, AVUYX, TWADX, ACLCX, AVURX, AVUGX, and AVUDX) have certain options and for certain investors are short and strict

All 5 Releases


More Releases for Loop

Investigation announced for Long-Term Investors in Loop Industries, Inc. (NASDAQ …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Loop Industries, Inc. Investors who are current long term investors in Loop Industries, Inc. (NASDAQ: LOOP) 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 for investors in NASDAQ: LOOP stocks follows a lawsuit filed against Loop Industries, Inc. over
Global Hook & Loop Fasteners Market Report
According to a recent market report compiled by Global Market Estimates, the Global Hook & Loop Fasteners Market is expected to grow at a CAGR of 4.8 percent during the forecast period. Increasing demand for healthcare applications coupled with the rising number of surgeries is also steering the industry's growth. Browse 120 Market Data Tables and 90 Figures spread through 180 Pages and in-depth TOC on "Hook & Loop Fasteners Market
Global Hook & Loop Industry Professional Report 2019
Global Hook & Loop market report is first of its kind research report that covers the overview, summary, market dynamics, competitive analysis, and leading player’s various strategies to sustain in the global market. This report covers five top regions of the globe and countries within, which shows the status of regional development, consisting of market value, volume, size, and price data. Apart from this, the report also covers detail information about
Scanning Electron Microscope Loop Control Using ADwin
ADwin-Gold-II DAQ System Offers High-Speed Control scanning electron microscope application photoCAS DataLoggers supplied the control solution for a university physics department conducting research using a scanning electron microscope (SEM). SEMs generate extremely high-resolution (on the nanometer level) images by focusing a narrow electron beam to scan the sample. Part of the beam is absorbed by the material being scanned, but about 10-20% of the electrons are reflected off the surface. These
Loop Melody
Opening: Friday December 7 2018 | 5pm - 8pm Here’s one storyline. Here’s another. Here’s an endless number of storylines hovering on the groundless surface. Kaye’s granular drawings are seasonal, even hourly, depictions of light and intimacy. They blanch in the yellow California summer. They fold in, purple and blue, at twilight. The borders disappear as her shapes meander across one another, building conversational layer upon layer. While this close-ness is front
Global Inductive Loop Vehicle Detector Market
Global Inductive Loop Vehicle Detector Market: Market Dynamics Ongoing urbanization and improving urban infrastructure especially in developing countries are expected to generate healthy demand for inductive loop vehicle detector, as improving infrastructure will result in improved traffic management, parking management and security gates. The market is expected to witness robust demand from the traffic management application over the forecast period. The weather-independent structure of inductive loop vehicle detector is another factor