Berger Montague Urges ASP Isotope ( ASPI ) Investors to Inquire About Securities Fraud Class Action Lawsuit Investing.com
Philadelphia, Pennsylvania–(Newsfile Corp. – December 30, 2024) – Berger Montague PC informs investors that against ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI ) filed a securities class action lawsuit ) on behalf of purchasers of ASP Isotopes Securities between October 30, 2024 and November 26, 2024 inclusive (“Class Period”).
Deadline for investors: Investors who purchased or acquired ASP ISOTOPES securities during the Teaching Period can no later than FEBRUARY 3, 2025seeks to be appointed lead representative of the class plaintiffs. For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.netor CLICK HERE.
Headquartered in Washington, DC, ASP Isotopes is a development-stage advanced materials company focused on the production, enrichment and sale of isotopes. The company reportedly has multiple isotope enrichment facilities 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) overestimated the potential effectiveness of its enrichment technology; (2) overestimated the development potential of its high-enriched low-enriched uranium (HALEU) facility; and (3) overestimated the Company’s results in the nuclear fuel business segment.
Investors learned the truth on November 26, 2024, when Fuzzy Panda Research released a report stating that ASP Isotopes “is using old, neglected laser beneficiation technology to masquerade as new, superior beneficiation.” The report, based on interviews with former employees and industry expectations, cast doubt on the company’s “proprietary” technology and characterized the company’s timeline for building its HALEU uranium facilities as misleading to the point of being a “hoax.” The report further alleges that the company significantly overstated the importance of its agreement with TerraPower and misled investors about the involvement of Quantum (NASDAQ: ) subsidiary Leap Energy in TerraPower’s proposed relationship.
Following this news, the Company’s share price fell $1.80, or 23.53%, to $5.85 per share on November 26, 2024, due to unusually high trading volume. The stock continued to decline on the next trading date, falling $0.83 or 14.19% to close at $5.02 per share on November 27, 2024.
Learn more about the lawsuit
The lead plaintiff is the representative party that acts on behalf of all class members in the conduct of the litigation. The lead plaintiff is usually an investor or a small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and those attorneys, if approved by the court, are lead or class counsel. However, deciding whether to be the lead plaintiff does not affect your ability to participate in the recovery. Communication with any attorney is not necessary to participate or participate in any recovery obtained in this case. Each putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco and Chicago, has been a pioneer in securities class actions since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and serves as general counsel in courts throughout the United States.
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