Philadelphia, Pennsylvania–(Newsfile Corp. – December 23, 2024) – Berger Montague PC advises investors that a securities class action lawsuit has been filed against ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI) ) on behalf of purchasers ASP counterpart securities for the period between October 30, 2024 through November 26, 2024, inclusive (the “Class Period”)..
Investor Deadline: Investors who purchased or acquired securities of ASP ISOTOPES during the Class Period may, no later than February 3, 2025seeks to be appointed as lead plaintiff representative for the class. For additional information or to learn how to participate in this lawsuit, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at famner@bm.netor Click here.
Headquartered in Washington, D.C., ASP Isotopes is a development-stage advanced materials company focused on the production, enrichment, and sale of isotopes. The company claims to have several isotope enrichment plants currently under development in South Africa.
According to the lawsuit, ASP Isotopes and its senior executives failed to disclose to investors that the company: (1) overstated the potential effectiveness of its enrichment technology; (2) overestimated the development potential of its highly enriched low-enriched uranium (HALEU) facility; and (3) overstating the results of the Company's nuclear fuel operating segment.
Investors learned the truth on November 26, 2024, when Fuzzy Panda Research published a report claiming that ASP Isotopes was “using old, neglected laser enrichment technology to masquerade as new, cutting-edge enrichment.” The report, which relied on interviews with former employees and industry forecasts, cast doubt on the company's “proprietary” technology and described the company's timeline for building its HALEU uranium facilities as misleading to the point of being “fictitious.” The report also alleged that the company significantly exaggerated the significance of its agreement with TerraPower and misled investors regarding the involvement of Quantum subsidiary (NASDAQ:) Leap Energy in the proposed TerraPower relationship.
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, on unusually heavy trading volume. The stock continued to decline on the subsequent trading date, falling $0.83, or 14.19%, to close at $5.02 per share on November 27, 2024.
Learn more about the lawsuit
A lead plaintiff is a representative party acting on behalf of all class members in directing the lawsuit. The lead plaintiff is usually the investor or a small group of investors who have the largest financial interest and who are also considered appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead attorneys or the class. However, your ability to participate in any recovery is not affected by the decision of whether or not to serve as lead plaintiff. Communication with any attorney is not necessary to participate or contribute to any recovery achieved in this case. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choosing, or they may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a leader in securities class action lawsuits since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five years. contracts and serves as lead attorney in courts throughout the United States.
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