Corcept Investors Facing 96-Hour Deadline to Join Class Action Lawsuit

Kahn Swick & Foti, LLC Reminds Investors with Losses Over $100,000 to File by April 21 Deadline

Apr. 17, 2026 at 10:23pm

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A high-contrast black and white close-up photograph of the intricate mechanical components inside a pharmaceutical manufacturing plant, representing the complex infrastructure behind drug development.The complex regulatory and financial challenges facing pharmaceutical companies seeking new drug approvals are laid bare in this industrial-style macro image.New Orleans Today

A class action lawsuit has been filed against Corcept Therapeutics Incorporated (NasdaqCM: CORT) alleging the company failed to disclose material information to investors about the likelihood of FDA approval for its new drug candidate relacorilant. Investors who purchased Corcept shares between October 31, 2024 and December 30, 2025 have until April 21, 2026 to file as lead plaintiffs in the case.

Why it matters

The lawsuit claims Corcept misled investors about the prospects for relacorilant's FDA approval, leading to a 50% stock price plunge when the company disclosed the FDA had issued a Complete Response Letter requesting more evidence of the drug's effectiveness. This case highlights the importance of transparency and accurate disclosures by pharmaceutical companies seeking regulatory approval for new products.

The details

According to the complaint, Corcept represented to investors that there was a high likelihood relacorilant would receive FDA approval after the company submitted its New Drug Application. However, on December 31, 2025, Corcept disclosed the FDA had issued a Complete Response Letter stating it could not arrive at a favorable benefit-risk assessment for relacorilant without additional evidence of effectiveness. This news caused Corcept's stock price to plummet by over 50% in a single day.

  • The class period covers October 31, 2024 to December 30, 2025.
  • Investors have until April 21, 2026 to file as lead plaintiffs 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 is representing investors in the class action lawsuit against Corcept.

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

Investors have until April 21, 2026 to file as lead plaintiffs in the class action lawsuit against Corcept Therapeutics.

The takeaway

This case highlights the importance of pharmaceutical companies providing full transparency to investors about the regulatory approval process for new drug candidates. Misleading disclosures that inflate the prospects of FDA approval can lead to significant stock price volatility and investor losses when the true challenges are eventually revealed.