cept Therapeutics rporated(US:CORT) Globenewswire·2026-02-21 01:28Core Viewpoint - The Corcept class action lawsuit alleges that Corcept Therapeutics and its executives misrepresented the status of their New Drug Application (NDA) for relacorilant, leading to significant financial losses for investors when the FDA issued a Complete Response Letter (CRL) indicating concerns about the clinical evidence supporting the NDA [1][3][4]. Group 1: Lawsuit Details - The class action lawsuit seeks to represent purchasers of Corcept common stock from October 31, 2024, to December 30, 2025 [1]. - The lawsuit is titled Allegheny County Employees' Retirement System v. Corcept Therapeutics Incorporated and is filed in the Northern District of California [1]. - The allegations include that Corcept misled investors about the FDA's review process and the adequacy of clinical evidence for relacorilant [3][4]. Group 2: FDA Concerns - The FDA had raised concerns about the clinical evidence supporting the NDA for relacorilant, indicating a material risk of non-approval [3]. - On December 31, 2025, Corcept disclosed that the FDA issued a CRL, stating it could not make a favorable benefit-risk assessment without additional evidence [4]. - A redacted copy of the CRL published on January 30, 2026, detailed the FDA's concerns regarding the sufficiency of the clinical studies submitted [5]. Group 3: Legal Process - Investors who suffered losses during the class period can seek to be appointed as lead plaintiff in the lawsuit [6]. - The lead plaintiff will represent the interests of all class members and can select a law firm for litigation [6]. Group 4: Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder rights litigation, having recovered over $916 million for investors in 2025 alone [7]. - The firm has a strong track record, recovering $8.4 billion for investors over the past five years, including the largest securities class action recovery in history [7].