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California City Today
By the People, for the People
Corcept Therapeutics Hit with Securities Class Action Lawsuit
Prominent law firm Bernstein Litowitz Berger & Grossmann LLP files suit over alleged securities fraud.
Published on Feb. 21, 2026
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Bernstein Litowitz Berger & Grossmann LLP has filed a class action lawsuit against Corcept Therapeutics Incorporated and certain of its senior executives, alleging violations of federal securities laws. The lawsuit claims that Corcept misled investors about the prospects of its lead drug candidate, relacorilant, for treating hypercortisolism (Cushing's syndrome), and that the company knew the FDA had significant concerns about the adequacy of the clinical evidence supporting the drug's approval.
Why it matters
This lawsuit highlights the risks pharmaceutical companies face when making overly optimistic claims about their drug pipelines. Investors rely on accurate information to make informed decisions, and Corcept's alleged misrepresentations could have significant financial consequences for the company and its shareholders.
The details
The complaint alleges that throughout the class period, Corcept represented that the clinical trials for relacorilant provided 'powerful support' for the New Drug Application (NDA) submitted to the FDA, and that the company was confident the NDA would be approved. However, the lawsuit claims the FDA had repeatedly raised concerns about the adequacy of the clinical evidence, posing a material risk that the NDA would not be approved. This truth was revealed on December 31, 2025, when Corcept announced the FDA had issued a Complete Response Letter regarding the relacorilant NDA, stating the agency could not arrive at a favorable benefit-risk assessment without additional evidence of the drug's effectiveness.
- The class period covers October 31, 2024 to December 30, 2025.
- On December 31, 2025, Corcept revealed the FDA had issued a Complete Response Letter regarding the relacorilant NDA.
- On January 30, 2026, the FDA published a redacted copy of the Complete Response Letter, detailing its concerns about the adequacy of the clinical studies supporting the relacorilant NDA.
The players
Bernstein Litowitz Berger & Grossmann LLP
A prominent investor rights law firm that filed the class action lawsuit against Corcept Therapeutics.
Corcept Therapeutics Incorporated
A pharmaceutical company focused on developing medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol.
What they’re saying
“The complaint is based on an extensive investigation and a careful evaluation of the merits of this case.”
— Scott R. Foglietta, Attorney, Bernstein Litowitz Berger & Grossmann LLP (Business Wire)
What’s next
Investors have until April 21, 2026 to file a motion to serve as Lead Plaintiff in the class action lawsuit.
The takeaway
This case highlights the importance of pharmaceutical companies providing accurate and transparent information to investors about the status of their drug development pipelines. Misleading claims about the prospects of a drug can have serious financial consequences for a company and its shareholders.
