Shuman Glenn & Stecker Investigates Corcept Therapeutics, Inc.
06 August 2020 - 7:56AM
Business Wire
Shuman Glenn & Stecker announces that it is investigating
potential shareholder claims against certain officers and directors
of Corcept Therapeutics, Inc. (“Corcept” or the “Company”) (Nasdaq:
CORT). Corcept is a pharmaceutical company.
The Firm’s investigation relates to allegations raised in a
January 25, 2019 report by the nonprofit Foundation for Financial
Journalism (“FFJ”) titled “Corcept Therapeutics: The Company That
Perfectly Explains the Health Care Crisis”. In its report, FFJ
alleged a Company-wide “off-label” marketing scheme involving a
Corcept drug called Korlym. FFJ further alleged that increasing
deaths had been associated with the drug. Korlym is not approved by
the FDA for general treatment of endogenous Cushing’s Syndrome, a
rare disease affecting approximately 20,000 Americans. Rather,
Korlym has only been FDA-approved for treatment of a tiny fraction
of Cushing’s Syndrome patients who have type 2 diabetes mellitus or
glucose intolerance and have failed surgery or are not candidates
for surgery. FFJ alleged, however, that pursuant to Corcept’s
“off-label” marketing scheme, physicians were induced via honoraria
and speaker payments to prescribe Korlym for general treatment of
Cushing’s Syndrome. Less than a week after the FFJ report was
published, on January 31, 2019, Corcept forecasted a slowdown in
Korlym sales, projecting full-year 2019 revenues which were well
below analysts’ expectations. As a result, Corcept’s stock price
dropped by over 10% on February 1, 2019. A federal securities fraud
class action against Corcept was subsequently filed on March 14,
2019 in the U.S. District Court for the Northern District of
California. That case remains pending.
If you currently own Corcept common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Brett Stecker toll free at (866)
569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.
Shuman Glenn & Stecker represents investors throughout the
nation, concentrating its practice in stockholder litigation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200805006081/en/
SHUMAN GLENN & STECKER Brett D. Stecker, Esq. 326 West
Lancaster Ave., Suite 110 Ardmore, PA 19003 Tel: 866.569.4531 Fax:
303.536.7849 Email: brett@shumanlawfirm.com Web:
www.shumanlawfirm.com
Corcept Therapeutics (NASDAQ:CORT)
Historical Stock Chart
From Apr 2024 to May 2024
Corcept Therapeutics (NASDAQ:CORT)
Historical Stock Chart
From May 2023 to May 2024