PR Newswire | Oct 15, 2020 10:01AM EDT

Industries, Inc. of Class Action and Encourages Shareholders to Contact the Firm

10/15 09:00 CDT

LOOP Shareholder Notification: Bronstein, Gewirtz & Grossman, LLC Notifies Loop Industries, Inc. of Class Action and Encourages Shareholders to Contact the Firm NEW YORK, Oct. 15, 2020

NEW YORK, Oct. 15, 2020 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Loop Industries, Inc. ("Loop" or the "Company") (NASDAQ: LOOP) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Loop securities between September 24, 2018 and October 12, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/loop.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (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 and Thyssenkrupp; 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.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/loop or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Loop you have until December 15, 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.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:Bronstein, Gewirtz & Grossman, LLCPeretz Bronstein or Yael Hurwitz212-697-6484 | info@bgandg.com

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SOURCE Bronstein, Gewirtz & Grossman, LLC