Corcept Investors Face Approaching Deadline in Securities Fraud Case

Hagens Berman Reminds Investors of April 21 Lead Plaintiff Deadline in Lawsuit Over Relacorilant Failure

Apr. 19, 2026 at 12:52am by

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A high-end, photorealistic studio still-life photograph showing the shattered remains of a glass vial or beaker on a clean, monochromatic background, symbolizing the collapse of Corcept's drug development efforts and the financial impact on investors.The shattered remnants of Corcept's failed drug candidate relacorilant reflect the devastating financial impact on investors following the company's alleged failure to disclose critical FDA warnings.San Francisco Today

A national shareholder rights law firm is reminding investors in Corcept Therapeutics who suffered significant losses between October 2024 and December 2025 that the deadline to submit as lead plaintiff in a securities class action lawsuit is April 21, 2026. The lawsuit alleges Corcept concealed warnings from the FDA about the lack of evidence for its lead drug candidate, relacorilant, leading to a 50% stock price crash when the FDA ultimately rejected the drug.

Why it matters

This case highlights the risks investors face when companies allegedly withhold material information from the public about the status of their drug development pipelines. The lawsuit claims Corcept misled investors about relacorilant's prospects, leading to a massive single-day stock plunge that erased nearly $2.5 billion in market value.

The details

The class action lawsuit alleges that during pre-submission meetings in 2024 and 2025, the FDA explicitly warned Corcept that its clinical data lacked sufficient evidence of relacorilant's effectiveness. However, the company continued to tout the drug's potential approval while failing to disclose these warnings. On December 31, 2025, Corcept revealed it had received a Complete Response Letter from the FDA, which concluded the agency could not arrive at a favorable benefit-risk assessment for relacorilant due to an "insufficient" evidentiary record.

  • During pre-submission meetings in 2024 and 2025, the FDA warned Corcept about the lack of evidence for relacorilant.
  • On December 31, 2025, Corcept disclosed it had received a Complete Response Letter from the FDA rejecting relacorilant.

The players

Corcept Therapeutics Incorporated

A pharmaceutical company focused on developing drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders.

Hagens Berman

A global plaintiffs' rights complex litigation firm focusing on corporate accountability and representing investors, whistleblowers, workers, and consumers in cases achieving real results for those harmed by corporate negligence and wrongdoing.

Reed Kathrein

The Hagens Berman partner leading the firm's investigation of the pending claims against Corcept.

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What they’re saying

“'The case claims that Corcept's management was essentially told to expect failure, yet they allegedly gave investors the false impression to expect an approval.'”

— Reed Kathrein, Hagens Berman Partner

What’s next

The judge will decide on April 21, 2026 whether to appoint a lead plaintiff in the securities fraud class action lawsuit against Corcept Therapeutics.

The takeaway

This case highlights the importance of transparency and accurate disclosure from pharmaceutical companies regarding the status of their drug development pipelines, as investors rely on this information to make informed decisions. The alleged failure to disclose material FDA warnings about relacorilant's lack of efficacy data resulted in a significant single-day stock price crash that erased billions in market value.