Loop Industries, Inc. Class Action Lawsuit - LOOP

Company: Loop Industries, Inc. (NASDAQ: LOOP)
Lead Plaintiff Deadline: December 14, 2020 (Expired)
Class Period: September 24, 2018 - October 12, 2020

Expired

Lead Plaintiff Deadline

Dec 14, 2020

Join the Loop Industries, Inc. Class Action Lawsuit

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$500,000+

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

I have not sought to serve nor have I served as a class representative in any federal securities fraud case. I have sought to serve as a class representative in

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Loop Industries, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1

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Allegations

(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.

Eligibility

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.

Lead Plaintiff Deadline

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.

Loop Industries, Inc Class Action Lawsuit Details

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.

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