Deadline in 6 Days: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Class Action Lawsuit Against PureCycle Technologies, Inc. (PCT) | News

RADNOR, Pa., July 7, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors of PureCycle Technologies, Inc. (NASDAQ: PCT) (“PureCycle”) f / k / a Roth CH Acquisition I Co. (“Roth Acquisition”) ( NASDAQ: ROCH) that a class action lawsuit for securities fraud has been filed on behalf of those who bought or acquired PureCycle securities between November 16, 2020 and May 5, 2021, including (the “Class Period”).

Deadline Reminder: Investors who have purchased or acquired PureCycle securities during the class period, not later than July 12, 2021to be appointed as the group’s lead plaintiff. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; per email to [email protected]; or click https://www.ktmc.com/purecycle-technologies-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=purecycle

PureCycle markets cleaning recycling technology originally developed by The Procter & Gamble Company (“Procter & Gamble”) to restore waste polypropylene to resin with near-virgin properties. Roth Acquisition was organized as a Special Purpose Acquisition Company (“SPAC”).

The class period begins on November 16, 2020when PureCycle issued a press release announcing it would become a publicly traded company through a merger with Roth Acquisition. On March 18, 2021, PureCycle and Roth Acquisition announced that their proposed business combination would, after approval by Roth Acquisition’s shareholders, at a special meeting held on March 16, 2021. PureCycle promoted the technology licensed from Procter & Gamble throughout the course.

However, the truth was revealed before the markets hit May 6, 2021when analyst Hindenburg Research published a report on PureCycle entitled “PureCycle: The Latest Zero-Revenue ESG SPAC Charade, Sponsored by the Worst of Wall Street.” In the report, Hindenburg wrote, among other things, that: (1) Hindenburg “spoke to several former employees of former” PureCycle executives “who said PureCycle executives based their financial projections on” wild guesses “of what companies were doing the public brought up too early and had deceived investors “; (2) unlike most of the” leading plastics companies ” [who] Publish peer-reviewed studies detailing their advances in this area, “Hindenburg was” unable to find a single peer-reviewed study in any scientific journal citing or reviewing PureCycle’s licensed process “; ( 3) “several competitors and industry experts. . . stated that PureCycle faces fierce competition for high quality raw materials and challenged the company’s financial guidance ”and (4)“ PureCycle represents the worst qualities of the SPAC boom; Another typical example of executives and SPAC sponsors getting rich while bringing unproven technology and ridiculous financial projections to the public markets so that retail investors face the ultimate consequences. “Following this news, PureCycle’s share price fell from a May 5, 2021 Closing price from $ 24.59 per share at a May 6, 2021 Closing price from $ 14.83, a one-day decrease of about 40%.

The lawsuit alleges that throughout the collection period, defendants made false and / or misleading statements and / or failed to disclose: (1) The PureCycle technology licensed from Procter & Gamble was not proven and posed serious problems even on a laboratory scale dar; (2) the challenges of the availability and competition for the raw materials necessary to commercialize the licensed technology were significant; (3) PureCycle’s financial projections were unfounded; and (4) as a result, PureCycle’s public statements at all relevant times have been materially false and misleading.

PureCycle Investors can not later than July 12, 2021, attempt to be appointed as lead class representative by Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or they may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topas Meltzer & Check, LLP

James Maro, Jr., Esq.

Adrienne Bell, Esq.

280 König-von-Preußen-Strasse

Radnor, PA 19087

(844) 887-9500 (toll free)

[email protected]

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SOURCE Kessler Topas Meltzer & Check, LLP

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