Corcept Therapeutics Hit with Securities Fraud Lawsuit After 50% Stock Plunge

Investors have until April 21, 2026 to join class action over FDA approval issues

Published on Feb. 28, 2026

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Kahn Swick & Foti, LLC has filed a securities fraud class action lawsuit against Corcept Therapeutics Incorporated (NasdaqCM: CORT) on behalf of investors who purchased the company's shares between October 31, 2024 and December 30, 2025. The lawsuit alleges that Corcept failed to disclose material information during this period, including that its lead new product candidate relacorilant was unlikely to receive FDA approval, leading to a 50% stock price decline when the FDA issued a Complete Response Letter rejecting the drug's New Drug Application.

Why it matters

This case highlights the risks investors face when companies fail to fully disclose information that could impact their stock price. The significant 50% drop in Corcept's share price following the FDA's rejection of relacorilant demonstrates the potential financial harm to investors from alleged securities fraud.

The details

The lawsuit alleges that during the Class Period, Corcept represented to investors that there was a high likelihood relacorilant would receive FDA approval, but failed to disclose information suggesting otherwise. On December 31, 2025, Corcept disclosed that the FDA had issued a Complete Response Letter regarding the NDA for relacorilant, concluding it could not arrive at a favorable benefit-risk assessment without additional evidence of effectiveness. This news caused Corcept's stock price to plummet 50.4% in a single day.

  • Corcept's shares were purchased between October 31, 2024 and December 30, 2025.
  • On December 31, 2025, Corcept disclosed the FDA's rejection of relacorilant's NDA.

The players

Corcept Therapeutics Incorporated

A biopharmaceutical company focused on developing drugs for disorders associated with excessive cortisol.

Kahn Swick & Foti, LLC

A boutique securities litigation law firm that has filed the class action lawsuit against Corcept on behalf of investors.

Charles C. Foti, Jr.

A partner at Kahn Swick & Foti and former Attorney General of Louisiana.

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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 ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqcm-cort/ to learn more.”

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

What’s next

Investors have until April 21, 2026 to file lead plaintiff applications in the securities class action lawsuit against Corcept Therapeutics.

The takeaway

This case highlights the importance of full and accurate disclosure by public companies, as well as the potential legal recourse available to investors who suffer losses due to alleged securities fraud. The significant stock price decline following Corcept's revelation about the FDA's rejection of its drug underscores the financial risks investors face when companies fail to be transparent.