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LOOP.US
id: 344
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court
24 Sept 2018
Class period Start
12 Oct 2020
Class period End
15 Feb 2023
Claim deadline
In re Loop Industries, Inc. Securities Litigation.

Loop Industries (LOOP) agreed to pay $3.1 million to settle a securities class action lawsuit accusing the Company of deceiving investors about the Company’s business, operations, and prospects.

The Complaint alleged that the Company and its Leaders failed to disclose to investors:
  • Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process;
  • Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%;
  • the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama and Thyssenkrupp;
Loop Industries (LOOP) agreed to settle with investors to avoid further litigation.


Case Status
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Sakari Johansson,John Jay Cappa
Attorneys
Bronstein, Gewirtz & Grossman, LLC (New York) Glancy Prongay & Murray LLP (Los Angeles) Law Offices of Howard G. Smith Pomerantz LLP (New York)
Judge
Hon. Nelson Stephen Roman
Administrator
Strategic Claims Services
Court hearing date
05 January 2023
Trades matching type
FIFO
+$3,100,000
Cash Settlement Amount

Loop Industries Inc

Loop Industries, Inc., a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles...

    Ticker
    LOOP.US
    ISIN
    US5435181046
    CIK
    1504678
    Sector
    Basic Materials
    Industry
    Specialty Chemicals
    Country
    USA
    Address
    480 Fernand-Poitras, Terrebonne, QC, Canada, J6Y 1Y4