Corcept Therapeutics Incorporated (CORT) Investor Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation
NEW YORK, NY / ACCESSWIRE / March 15, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Corcept Therapeutics Incorporated("Corcept" or the "Company") (CORT). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/cort.
The investigation concerns whether Corcept and certain of its officers and/or directors have violated federal securities laws.
On January 25, 2019, Southern Investigative Reporting Foundation ("SIRF") published a report alleging that Corcept paid doctors to prescribe its drug Korlym for off-label uses. Following publication of the SIRF report, Corcept's stock price fell $1.52 per share, or more than 11%, to close at $12.29 per share on January 25, 2019. On January 31, 2019, Corcept forecast a sharp slowdown in sales of Korlym, projecting full-year 2019 revenue of $285 million to $315 million, significantly lower than investor and analyst expectations of $328 million. On this news, Corcept's stock price fell $1.15 per share, or more than 10%, to close at $10.03 per share on February 1, 2019. On February 5, 2019, Blue Orca Capital published a report alleging that Corcept's "sole specialty pharmacy and exclusive distributor is an undisclosed related party" and that the relationship "creates a material risk that the Company is using its captured pharmacy to boost sales, hide losses, or engage in other financial shenanigans."
If you are aware of any facts relating to this investigation, or purchased Corcept shares,you can assist this investigation by visiting the firm's site: www.bgandg.com/cort. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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