Loop Industries: Falls after disclosing subpoena from SEC

Loop Industries

16/10/2020 22:04

** Commodity chemicals maker's shares  LOOP.O  down 4.5% at
$7.49 aftermarket
    ** Co says it received a subpoena from SEC on Thursday
requesting certain information (https://bit.ly/3575Uag)
    ** Subpoena requests information regarding testing, testing
results and details of results from co's Gen I and Gen II
technologies and certain partnerships and agreements
    ** Earlier in the week, co and some of its officers were
named as defendants in a purported class action lawsuit filed in
the United States District Court for the Southern District of
New York
    ** Stock down ~21% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))