Corcept Hit With Securities Class Action Over Relacorilant FDA Rebuff as Lead-Plaintiff Deadline Nears

The suit alleges the company concealed pre-submission FDA warnings later described in a January 30 letter.

Overview

Allegheny County Employees' Retirement System filed the case in the U.S. District Court for the Northern District of California as Allegheny County Employees' Retirement System v. Corcept Therapeutics Inc., No. 26-cv-01525.
An FDA communication dated January 30, 2026 stated the agency had repeatedly warned Corcept before submission about concerns with the clinical program and to expect significant review issues.
Corcept disclosed a Complete Response Letter on December 31, 2025 stating the FDA could not find a favorable benefit‑risk assessment without additional evidence of effectiveness.
The disclosure precipitated a roughly 50% single‑day drop in Corcept’s stock, from $70.20 to $34.80, erasing nearly $2.5 billion in market value.
Hagens Berman set an April 21, 2026 deadline for investors to seek lead‑plaintiff status, and Robbins LLP is also recruiting class members, as the allegations remain unproven at this early stage.