LOOP Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against Loop Industries, Inc. (LOOP); Lead Plaintiff Deadline is December 14, 2020
Newsfile, 03 November 2020
Berger Montague is investigating potential securities fraud claims against Loop Industries, Inc. (NASDAQ: LOOP) (“Loop” or the “Company”) on behalf of investors who purchased Loop securities between September 24, 2018 and October 12, 2020 (the “Class Period”). If you purchased Loop securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at email@example.com or (215) 875-3015, or Donnell Much at firstname.lastname@example.org or (215) 875-4667, or contact us at www.bergermontague.com/loop-industries.
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Advanced Recycling Company Loop Industries Called a Fraud
Clare Goldsberry, 14 October 2020
Recycling plastics — all types of plastics — has been a holy grail for the industry as well as brand owners who depend on plastic packaging for convenience, safety, product freshness, and security. As the accumulation of plastic waste has become a high-profile issue, finding a recycling solution has taken on increased urgency.
Environmental activist groups have pressured big brand owners such as PepsiCo, Coca-Cola, and Nestle through shareholder proposals and even lawsuits if they don’t clean up the plastic waste caused by their products. So eager are these big companies to find the magic bullet to remove plastic bottles, containers, and other plastic items from the environment that they have been ripe for whatever scheme might come along offering them a way out of this mess.
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LOOP SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages Loop Industries (LOOP) Investors to Contact Its Attorneys, Securities Fraud Action Filed, Application Deadline Approaching
GLOBE NEWSWIRE, 30 November 2020
The complaint alleges that Loop made false and misleading statements about its purportedly “proven” technology that breaks down PET plastic to its base chemicals at a recovery rate of 100%. The complaint also alleges that Loop misrepresented its partnerships with key customers.
Specifically, the complaint alleges that Defendants failed to disclose to investors: (1) that Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process; (2) that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) that, as a result, the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama and Thyssenkrupp.
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