Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Have Suffered Losses Over $50,000 in ASP Isotopes to Contact Him Directly to Discuss Their Options.
If you have a loss of more than $50,000 ASP Isotopes between 30 October 2024 and 26 November 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live at the 877-247-4292 or 212-983-9330 (Ext. 1310).
(You can click here for more information)
New York, New York– (Newsfile Corp. – December 29, 2024) – Faruqi & Faruqi, LLP, a national securities law firm, is investigating potential claims against ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI) and reminds investors February 3, 2025 deadline seeking the role of lead plaintiff in a securities class action filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has received hundreds of millions of dollars from investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or by failing to disclose that: (1) the Company overstated the effectiveness of its enrichment technology; (2) the Company has exceeded the development capacity of its high-enriched uranium test equipment; (3) the Company exaggerated the results of the Company's nuclear fuel segment; and (4) that, as a result of the foregoing, the Defendants' positive statements regarding the Company's business, operations, and prospects were materially misleading and/or unsubstantiated.
On November 26, 2024, Fuzzy Panda Research published a report alleging that ASP Isotopes is “using an old, neglected laser enrichment technology to reinvent itself as a new, breakthrough one.” The report quoted a former employee of Klydon (the company ASP Isotopes bought the “proprietary” technology from) as saying that the scientists “didn't think it would work on Uranium.” The report showed a series of experts interviewed said the Company's estimates of the cost and time to build the uranium facilities of HALEU were misleading to the point of being “false.” The report goes on to allege that the Company overstated the importance of its agreement with TerraPower, which was a “non-binding” memorandum of understanding entered into “to put pressure on (TerraPower's) real sponsors.” The report quoted former TerraPower executives as stating that ASP Isotopes “was missing production; They lose programs as well; They still need to develop HALEU … the most important part.” Finally, the report revealed that the Company's division, Quantum (NASDAQ:) Leap Energy, which operates in its nuclear fuel division and with which the Company has given TerraPower memoranda of understanding, was not at all at its registered address in South Africa. The report revealed that there are “zero signs” of their presence and “guards and neighboring businesses all told us that they had never heard of the companies.”
On this news, the Company's stock price fell 1.80 or 23.53%, to close at $5.85 per share on November 26, 2024, in unusually heavy trading volume.
The stock continued to fall on the next trading day, down $0.83 or 14.19%, to close at $5.02 per share on November 27, 2024, in unusually heavy trading volume.
A court-appointed lead plaintiff is an investor with a substantial financial interest in the relief sought by a sufficient and common class of class members who administers and oversees the lawsuit on behalf of the putative class. Any privileged class member may move the Court to act as lead plaintiff through counsel of his or her own choosing, or may choose to remain inactive and remain a non-class member. Your ability to share in any recovery is not affected by the decision to act as the lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information about ASP Isotopes' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Follow us for updates on LinkedIn, X, or Facebook (NASDAQ:).
Marketing Lawyer. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict the same result with respect to any future matter. We welcome the opportunity to discuss your specific situation. All communications will be treated confidentially.
To view the source of this document, please visit https://www.newsfilecorp.com/release/234722