Loop Industries, Inc. Class Action Lawsuit - LOOP

(1) Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process; (2) Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) as a result, the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama Ventures Public Company Limited and thyssenkrupp Industrial Solutions; and (4) 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.

In order to be eligible to join the LOOP class action lawsuit, you must have incurred a loss on shares of Loop purchased during the class period listed above.

If you suffered a loss in Loop during the relevant time frame or pursuant to the relevant offering(s), you have until December 14, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

On October 13, 2020, Hindenburg research released a report alleging that, among other things, Loop Industries, Inc.: (i) was forcing its employees to lie about the results about the company’s recycling process; (ii) made misleading claims about its ability to break plastic down to its base at a recovery rate of 100%; (iii) was underestimating both costs and complexities of its recycling process; and (iv) would not generate meaningful revenue. Following the publication of the report, shares of Loop dropped over 32% in intraday trading.