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NEW YORK, March 14, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Corcept Therapeutics Incorporated (NASDAQ: CORT) securities between August 2, 2017 and February 5, 2019 (the “Class Period”). Investors have until May 13, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the complaint alleges that defendants failed to disclose to investors: (1) that the company had improperly paid doctors to promote its drug Korlym; (2) that the company aggressively promoted Korlym for off-label uses; (3) that the company’s sole specialty pharmacy was a related party; (4) that the company artificially inflated its revenue and sales using illicit sales practices through a related party; (5) that such practices are reasonably likely to lead to regulatory scrutiny; and (6) 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.
If you purchased Corcept securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Corcept lawsuit, please go to https://bespc.com/cort/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.