CORT ALERT: Hagens Berman Alerts Corcept Therapeutics (CORT) Investors to Securities Class Action Following FDA Rejection and Federal Court Patent Loss

Core Viewpoint - A securities class action has been filed against Corcept Therapeutics, with a deadline for investors to move for Lead Plaintiff by April 21, 2026, following significant stock losses related to the company's lead drug candidate, relacorilant [1][4]. Group 1: Lawsuit Details - The lawsuit, titled Allegheny County Employees' Retirement System v. Corcept Therapeutics Inc., was filed in the U.S. District Court for the Northern District of California, seeking to recover losses for those who purchased Corcept common stock between October 31, 2024, and December 30, 2025 [2]. - The allegations center around a failure to disclose critical information regarding the FDA's concerns about relacorilant, which the company allegedly misrepresented to investors [3][4]. Group 2: Allegations Summary - The complaint alleges that Corcept made materially false and misleading statements about relacorilant, failing to disclose that the FDA had warned the company about insufficient evidence of effectiveness during pre-submission meetings in 2024 and early 2025 [7]. - Despite knowing the FDA viewed the clinical data as fundamentally flawed, Corcept continued to promote positive Phase 3 results [7]. - On December 31, 2025, Corcept disclosed it received a Complete Response Letter (CRL) from the FDA, indicating an unfavorable benefit-risk assessment due to an "insufficient" evidentiary record, leading to a 50% drop in stock price from $70.20 to $34.80, erasing nearly $2.5 billion in market capitalization in one day [7].