According to the Complaint, Corcept is a pharmaceutical company that purports to develop medications to treat
severe metabolic, oncologic, and psychiatric disorders by modulating the effect of cortisol. Korlym is the Company's drug that has been approved by the FDA to treat hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company had improperly paid doctors to promote its drug Korlym; (2) that the Company aggressively promoted Korlym for off-label uses; (3) that the Company's sole specialty pharmacy was a related party; (4) that the Company artificially inflated its revenue and sales using illicit sales practices through a related party; (5) that such practices are reasonably likely to lead to regulatory scrutiny; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.