Corcept Therapeutics Faces Securities Fraud Class Action After FDA Rejection

Investors have until April 21, 2026 to file lead plaintiff applications in the lawsuit against the pharmaceutical company.

Published on Feb. 24, 2026

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Kahn Swick & Foti, LLC ('KSF') and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., are reminding investors with substantial losses 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 alleges that Corcept and certain executives failed to disclose material information during the Class Period from October 31, 2024 to December 30, 2025, violating federal securities laws.

Why it matters

The lawsuit alleges that Corcept misled investors about the likelihood of its lead new product candidate, relacorilant, receiving approval from the FDA. When the FDA issued a Complete Response Letter rejecting the New Drug Application for relacorilant, Corcept's stock price plummeted by over 50%, causing significant losses for investors.

The details

The complaint alleges that during the Class Period, Corcept represented to investors that there was a high likelihood relacorilant would receive FDA approval after the company's New Drug Application submission. However, on December 31, 2025, Corcept disclosed that the FDA had issued a Complete Response Letter regarding the NDA for relacorilant and concluded it could not arrive at a favorable benefit-risk assessment without additional evidence of effectiveness.

  • The Class Period is from October 31, 2024 to December 30, 2025.
  • Investors have until April 21, 2026 to file lead plaintiff applications in the lawsuit.

The players

Corcept Therapeutics Incorporated

A pharmaceutical company that develops and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders.

Kahn Swick & Foti, LLC

A boutique securities litigation law firm that serves public and private institutional investors, as well as retail investors, in seeking recoveries for investment losses.

Charles C. Foti, Jr.

The former Attorney General of Louisiana and a partner at Kahn Swick & Foti, LLC.

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What they’re saying

“If you purchased shares of Corcept and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-cort/ to learn more.”

— Lewis Kahn, Managing Partner, Kahn Swick & Foti, LLC

What’s next

The judge in the case will decide on April 21, 2026 whether to allow the lawsuit to proceed as a class action.

The takeaway

This case highlights the importance of pharmaceutical companies accurately disclosing material information to investors, especially regarding the status of their drug development pipelines. Investors who suffered losses due to Corcept's alleged misrepresentations may be able to recover those losses through the class action lawsuit.