Full Press Release Details
SAN FRANCISCO, Feb. 27, 2026 (GLOBE NEWSWIRE) -- National shareholder rights law firm Hagens Berman is notifying investors that a securities class action lawsuit has been filed against Corcept Therapeutics Inc. (NASDAQ: CORT) and certain of its top executives. The lawsuit, Allegheny County Employees' Retirement System v. Corcept Therapeutics Incorporated, No. 26-cv-01525 (N.D. Cal.), seeks to recover losses for investors who purchased CORT common stock between October 31, 2024, and December 30, 2025.
The firm urges Corcept investors who suffered significant losses to contact the firm now to discuss their rights.
The complaint alleges that Corcept misled the market regarding the regulatory viability of its lead product candidate, relacorilant. While the company publicly claimed the drug was supported by "powerful evidence" and was "approaching approval," the lawsuit reveals that the FDA had reportedly warned Corcept “on several occasions” during pre-submission meetings that its clinical data was inadequate.
Investors who suffered substantial losses are encouraged to visit the Hagens Berman’s CORT Case Page to download a copy of the complaint and review the lead plaintiff process: www.hbsslaw.com/cases/corcept
“The litigation targets the alleged gap between Corcept’s ‘high confidence’ narrative and the private warnings from the FDA,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation. “The complaint alleges that management knew the FDA had warned them to expect ‘significant review issues’ if they filed the NDA, yet they chose to move forward while assuring investors that no impediments existed.”
Summary of the Allegations: The Relacorilant Rejection
The filed complaint alleges that Corcept and its executives violated the Securities Exchange Act of 1934 by making false and/or misleading statements.
Concealed FDA Concerns: The lawsuit alleges that during pre-submission meetings, the FDA explicitly informed Corcept of concerns regarding the adequacy of the clinical development program to assess relacorilant’s effect on hypertension.
The “Warning Not to File”: Evidence cited in the complaint suggests the FDA warned the company to expect rejection if it submitted the NDA without additional evidence of effectiveness—a warning allegedly withheld from shareholders.
The December 31 “Surprise”: On December 31, 2025, Corcept revealed it had received a Complete Response Letter (CRL) from the FDA. The news caused CORT shares to plummet from $70.20 to $34.80 in a single day, erasing over $3.6 billion in market value.
The Post-Class Period Disclosure: A subsequent redacted copy of the CRL published on January 30, 2026, confirmed that the FDA had concluded it could not arrive at a "favorable benefit-risk assessment" without further effectiveness data.
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.
If you invested in Corcept and have substantial losses, or have knowledge that may assist the firm’s investigation,
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.
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.
Reed Kathrein, 844-916-0895