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Los Angeles, California--(Newsfile Corp. - December 14, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Loop Industries, Inc. ("Loop" or "the Company") (NASDAQ: LOOP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between September 24, 2018 and October 12, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before December 14, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Loop's management encouraged its scientists to misreport the results of the Company's special process. The Company lacked the technology to break PET down into base chemicals with a 100% recovery rate. The Company was unlikely to commercialize its process in announced partnerships with Indorama and Thyssenkrupp. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Loop, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,
The Schall Law Firm
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70199