Lawsuit Alleges Management Concealed Repeated FDA Warnings Regarding Insufficient Data While Touting Pipeline Readiness; Firm Reminds Investors of April 21 Deadline
SAN FRANCISCO, April 17, 2026 /PRNewswire/ — National shareholder rights law firm Hagens Berman reminds investors in Corcept Therapeutics Incorporated (NASDAQ: CORT) of the critical April 21, 2026 lead plaintiff deadline in the pending securities class action. The firm urges investors who suffered significant losses between October 31, 2024, and December 30, 2025 (the “Class Period”), to submit their losses now.
Case Name: Allegheny Cnty. Empl. Ret. Sys. v. Corcept Therapeutics Inc., et al.
Case No.: No. 26-cv-01525 (N.D. Cal.)
Lead Plaintiff Deadline: April 21, 2026
Contact: Reed Kathrein at 844-916-0895 or email CORT@hbsslaw.com
Summary of the Allegations: Concealed FDA Warnings
The Corcept class action focuses on the alleged disparity between the company’s public confidence and its private communications with the FDA regarding its lead drug candidate, relacorilant. The complaint alleges that throughout the Class Period, Corcept emphasized relacorilant’s potential approval while failing to disclose material facts.
- Repeated FDA Warnings: During pre-submission meetings in 2024 and 2025, the FDA explicitly warned Corcept that its clinical data lacked sufficient evidence of effectiveness.
- Flawed Data 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 on December 31, 2025—erasing nearly $2.5 billion in market capitalization in a single day.
“The complaint alleges a classic information gap,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the pending claims. “The case claims that Corcept’s management was essentially told to expect failure, yet they allegedly gave investors the false impression to expect an approval.”
View our latest video summary of the allegations: youtube.com/watch?v=vMk3jcOV3Ng
Investors in Corcept (CORT) are also encouraged to visit the Hagens Berman’s CORT Case Page to review the allegations: www.hbsslaw.com/cases/corcept
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.
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
