Lawsuit Alleges Management Concealed Repeated FDA Warnings Regarding Insufficient Data While Touting Pipeline Readiness; Firm Reminds Investors of April 21 Deadline
SAN FRANCISCO, March 30, 2026 /PRNewswire/ — National shareholder rights law firm Hagens Berman reminds investors in Corcept Therapeutics Incorporated (NASDAQ: CORT) that the deadline to move for Lead Plaintiff in the pending securities class action is April 21, 2026.
The firm urges Corcept investors who suffered significant losses to contact the firm now to discuss their rights.
The lawsuit, Allegheny County Employees’ Retirement System v. Corcept Therapeutics Inc., et al., No. 26-cv-01525, was filed in the U.S. District Court for the Northern District of California. The action seeks to recover losses for all persons and entities who purchased or otherwise acquired Corcept common stock between October 31, 2024, and December 30, 2025 (the “Class Period”).
Investors in Corcept (CORT) are encouraged to visit the Hagens Berman’s CORT Case Page to review the allegations: www.hbsslaw.com/cases/corcept
“The heart of the Corcept case is a classic ‘information gap’ between what the company told the public and what the FDA was reportedly telling the company behind closed doors,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
Summary of the Allegations: The “Relacorilant” Disclosure Failure
The filed complaint in Allegheny County v. Corcept alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the company’s lead drug candidate, relacorilant, by failing to disclose:
- Concealed FDA Concerns: That during pre-submission meetings in 2024 and early 2025, the FDA warned Corcept on several occasions that its clinical data lacked sufficient evidence of effectiveness to support a New Drug Application (NDA).
- Misleading Narrative: That defendants continued to tout Phase 3 results, despite knowing the FDA viewed the data as fundamentally flawed.
- The CRL Bombshell: On December 31, 2025, Corcept revealed it had received a Complete Response Letter (CRL) from the FDA. The agency concluded it could not arrive at a favorable benefit-risk assessment for relacorilant due to an “insufficient” evidentiary record.
- 50% Market Crash: Following this disclosure, Corcept’s stock price plummeted from $70.20 on December 30, 2025, to close at $34.80.06 on December 31, 2025—erasing nearly $2.5 billion in market capitalization in a single day.
View our latest video summary of the allegations: youtube.com/watch?v=vMk3jcOV3Ng
Critical Deadline: April 21, 2026
If you purchased Corcept common stock during the Class Period, you have until April 21, 2026, to ask the Court to appoint you as Lead Plaintiff.
- SUBMIT YOUR CORT LOSSES NOW
- Contact: Reed Kathrein at 844-916-0895 or email CORT@hbsslaw.com
If you’d like more information and answers to other frequently asked questions about the Corcept case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Corcept should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CORT@hbssslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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SOURCE Hagens Berman Sobol Shapiro LLP
