id: 344, Created by Stan Vick, Scout
Loop Industries Inc
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New YorkCourt
24 Sept 2018Class period Start
12 Oct 2020Class period End
15 Feb 2023Claim 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.
Sakari Johansson,John Jay Cappa
Bronstein, Gewirtz & Grossman, LLC (New York) Glancy Prongay & Murray LLP (Los Angeles) Law Offices of Howard G. Smith Pomerantz LLP (New York)
Hon. Nelson Stephen Roman
Strategic Claims Services
Court hearing date
05 January 2023
+$3,100,000Total Settlement Amount