The Corcept Therapeutics Incorporated class action lawsuit was filed on behalf of those who purchased or otherwise acquired Corcept Therapeutics Incorporated (“Corcept”) (NASDAQ: CORT) common stock between October 31, 2024 and December 30, 2025, inclusive (the “Class Period”). Captioned Allegheny County Employees’ Retirement System v. Corcept Therapeutics Incorporated, No. 26-cv-01525 (N.D. Cal.), the Corcept class action lawsuit alleges that Corcept and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.
If you lost money as a result of your Corcept investment and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at info@ktmc.com.
CASE BACKGROUND:
Corcept is a pharmaceutical company focused on the development of treatments for severe endocrinologic, oncologic, metabolic, and neurologic disorders by modulating the effects of cortisol. One of its lead product candidates is called relacorilant, which is being developed to treat hypercortisolism, among other indications.
COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) despite touting “powerful support” for the New Drug Application (“NDA”) to the Food and Drug Administration (“FDA”) for relacorilant and that the drug was fast approaching approval, the FDA had in fact repeatedly raised concerns about the clinical evidence supporting the NDA; and (2) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHY DID CORCEPT’S STOCK DROP?
On October 31, 2024, Corcept announced that based on the outcomes of relacorilant’s studies, the company was “very confident with submitting the NDA.” Defendants went on to assure investors that “when you look at the totality of evidence that we see from all of these studies, we believe we have a successful path to a positive NDA for relacorilant that will happen in the coming weeks.” Defendants continued to tout positive results from relacorilant’s studies, and touted on December 30, 2024 that the drugs “combination of efficacy and safety give it the potential to become the standard of care for the medical treatment of patients with hypercortisolism.” Throughout 2025, Corcept continued to announce positive results, and indicated that relacorilant’s NDA was under FDA review and “progressing towards approval by the end of this year.” However, on December 31, 2025, Corcept revealed that the FDA has issued a Complete Response Letter regarding relacorilant’s NDA, stating that the FDA had “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.” On this news, the price of Corcept’s common stock declined 50.4%.
THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Corcept common stock during the Class Period to seek appointment as lead plaintiff in the Corcept class action lawsuit. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.