Faruqi & Faruqi, LLP is investigating the claims on behalf of ASP isotope investors Investing.com

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $50,000 in ASP Isotopes to contact him directly to discuss their options

If you have suffered losses greater than $50,000 ASP isotopes between October 30, 2024 and November 26, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 4, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against ASP Isotopes Inc . (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI) and reminds investors of The deadline is February 3, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit 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 recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company overstated the potential effectiveness of its enrichment technology; (2) the company overestimated the development potential of its low-enriched high-level uranium facility; (3) The Company overestimated the results of the Company’s operations for nuclear fuels; and (4) that, as a result of the foregoing, the defendant’s positive statements about the Company’s business, operations and prospects were materially misleading and/or had no reasonable basis.

On November 26, 2024, Fuzzy Panda Research published a report stating that ASP Isotopes “uses an old, neglected laser enrichment technology to masquerade as a new, cutting-edge enrichment.” The report quoted a former employee of Klydon (the ASP Isotopes company from which it purchased its “proprietary” technology) as saying that the scientists “didn’t think they would be working on uranium.” The report found a number of experts interviewed who stated that cost estimates and construction timelines for the HALEU uranium facility were misleading to the point of being “misled”. The report goes on to say that the company significantly overstated the significance of its agreement with TerraPower, which was merely a “non-binding” memorandum of understanding entered into to “pressure the [TerraPower’s] the right suppliers.” The report quoted former TerraPower executives as saying that ASP Isotopes “lacks production; They also lack processes; They still have to develop HALEA… the most important part.” Finally, the report found that a subsidiary, Quantum (NASDAQ: ) Leap Energy, which operates the nuclear fuel segment and to which the company awarded TerraPower MOUs, was completely absent from its registered address in South Africa, revealed that there was “zero sign” of their presence and “the security guards and neighboring companies around them” all told us they had never heard of these companies.”

Following this news, the Company’s share price fell $1.80, or 23.53%, to close at $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, on unusually heavy trading volume.

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any 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 absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about ASP Isotopes’ conduct to contact the company, including whistleblowers, former employees, shareholders and others.

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Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/236012