The Law Offices of Frank R. Cruz Announces Investigation of PureCycle Technologies, Inc. (PCT) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On May 6, 2021, before the market opened, Hindenburg Research issued a report alleging that PureCycle is “another quintessential example of how executives and SPAC sponsors enrich themselves while hoisting unproven technology and ridiculous financial projections onto the public markets, leaving retail investors to face the ultimate consequences.” Hindenburg explained that it spoke with “multiple former employees” of earlier companies that PureCycle’s CEO and other associated executives took public before PureCycle, “who said that PureCycle’s executives based their financial projections on ‘wild… guessing,’ brought companies public far too early, and had deceived investors.” The report posited that one of the key challenges for the Company is obtaining sufficient quality feedstock to make its process economical, raising doubts about PureCycle’s projected 45% EBITDA margins.

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If you purchased PureCycle securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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