The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Corcept Therapeutics Incorporated (NASDAQCM: CORT) who purchased shares between August 2, 2017 and February 5, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Corcept lawsuit alleges that (1) the Company had improperly paid doctors to promote its drug Korlym; (2) the Company aggressively promoted Korlym for off-label uses; (3) the Company’s sole specialty pharmacy was a related party; (4) the Company artificially inflated its revenue and sales using illicit sales practices through a related party; (5) such practices are reasonably likely to lead to regulatory scrutiny; and (6) 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.
Shareholders have until May 13, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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