Corcept Therapeutics Incorporated Securities Fraud Class Action Related to FDA Approval Issues and 50% Stock Decline

Kahn Swick & Foti, LLC (KSF) and partner attorney Charles C. Foti, Jr., a former Attorney General of Louisiana, reminded investors that they have until April 21, 2026 to file lead plaintiff applications in a securities class action lawsuit against Corcept Therapeutics Incorporated (NasdaqCM: CORT). The lawsuit is pending in the United States District Court for the Northern District of California and concerns shares purchased or otherwise acquired between October 31, 2024 and December 30, 2025, inclusive.

Deadline for lead plaintiff applications

Investors with substantial losses who purchased Corcept shares during the class period may contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email at lewis.kahn@ksfcounsel.com. To serve as a lead plaintiff, applicants must petition the Court by April 21, 2026.

Allegations in the lawsuit

The complaint alleges that Corcept and certain executives failed to disclose material information during the class period, in violation of federal securities laws.

According to the complaint, during the class period the Company represented to investors that there was a high likelihood that its lead new product candidate, relacorilant, would receive approval from the U.S. Food and Drug Administration (FDA) after Corcept’s New Drug Application (NDA) submission.

FDA Complete Response Letter disclosure

The complaint states that on December 31, 2025, Corcept disclosed that the FDA had issued a Complete Response Letter (CRL) regarding the NDA for relacorilant. The Company also stated it had “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.”

Market reaction

Following the disclosure, Corcept’s share price fell by $35.40 per share, or 50.4%, from a closing price of $70.20 on December 30, 2025 to a closing price of $34.80 on December 31, 2025.

Case information

The action is captioned Allegheny County Employees’ Retirement System v. Corcept Therapeutics Incorporated, No. 26-cv-01525.

About Kahn Swick & Foti, LLC

KSF is a boutique securities litigation law firm. The firm’s partners include former Louisiana Attorney General Charles C. Foti, Jr. KSF states it was ranked by SCAS among the top 10 firms nationally based on total settlement value. The firm represents public and private institutional investors and retail investors seeking recoveries for investment losses related to alleged corporate fraud or malfeasance by publicly traded companies.

Contact

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960, New Orleans, LA 70163