Corcept Therapeutics Faces Securities Fraud Lawsuit Over Relacorilant Failure

Investors who lost money after Corcept's stock plunged due to allegedly misleading statements about its drug candidate urged to contact law firm by April 21 deadline

Apr. 19, 2026 at 12:21am by

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A photorealistic studio still life featuring broken laboratory equipment and scattered pills, symbolizing the collapse of Corcept's drug development efforts and the impact on investors.The shattered remnants of Corcept's failed drug candidate relacorilant reflect the heavy losses suffered by investors following the company's alleged misinformation campaign.San Francisco Today

A securities fraud class action lawsuit has been filed against Corcept Therapeutics, alleging the company misled investors about the prospects of its lead drug candidate relacorilant. The lawsuit claims Corcept downplayed repeated FDA warnings about insufficient clinical data, continuing to tout positive Phase 3 results despite knowing the FDA viewed the data as flawed. When Corcept later revealed it had received a Complete Response Letter from the FDA, the company's stock price plummeted, erasing nearly $2.5 billion in market value.

Why it matters

This case highlights the risks investors face when companies allegedly provide overly optimistic assessments of their drug pipelines, failing to disclose material information about regulatory setbacks. The lawsuit alleges a classic 'information gap' where Corcept's management was warned about likely failure, yet gave investors the false impression of an imminent approval.

The details

The lawsuit, filed by Hagens Berman, alleges that during pre-submission meetings in 2024 and 2025, the FDA explicitly warned Corcept that its clinical data for relacorilant lacked sufficient evidence of effectiveness. However, the company continued to tout the drug's positive Phase 3 results, despite allegedly knowing the FDA viewed the data as fundamentally flawed. On December 31, 2025, Corcept revealed it had received a Complete Response Letter from the FDA, which concluded it could not arrive at a favorable benefit-risk assessment for relacorilant due to an 'insufficient' evidentiary record. This disclosure caused Corcept's stock price to plummet 50% in a single day.

  • During pre-submission meetings in 2024 and 2025, the FDA warned Corcept about insufficient clinical data for relacorilant.
  • On December 31, 2025, Corcept revealed it had received a Complete Response Letter from the FDA regarding relacorilant.

The players

Corcept Therapeutics Incorporated

A biopharmaceutical company focused on developing drugs for 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.

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

Investors in Corcept (CORT) have until April 21, 2026 to ask the Court to appoint them as Lead Plaintiff in the securities fraud class action lawsuit.

The takeaway

This case highlights the importance of transparency and accurate disclosures from pharmaceutical companies, as investors rely on such information to make informed decisions. The allegations against Corcept raise concerns about corporate accountability and the potential consequences of misleading investors.