SAN DIEGO, Dec. 09, 2024 (GLOBE NEWSWIRE) —
Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired ASP Isotopes Inc. (NASDAQ: ASPI) securities between October 30, 2024 and November 26, 2024. ASP Isotopes is a development stage advanced materials company focused on the production, enrichment, and sale of isotopes.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that ASP Isotopes Inc. (ASPI) Misled Investors Regarding its Uranium Enrichment Technology and Facility
According to the complaint, during the class period, defendants failed to disclose that the Company: (1) overstated the potential effectiveness of its enrichment technology; (2) overstated the development potential of its high assay low-enriched uranium facility; and (3) overstated the Company’s nuclear fuels operating segment results.
Plaintiff alleges that on November 26, 2024, market research firm Fuzzy Panda Research published a report that alleged the Company is “using old, disregarded laser enrichment technology to masquerade as a new, cutting-edge Uranium enrichment.” The report revealed a series of experts interviewed stated the Company’s reported cost estimates and timeline for building its HALEU uranium facilities was misleading to the point of being “delusional.” The report further alleged the Company had significantly overstated the significance of its agreement with TerraPower, which was only a “non-binding” memorandum of understanding entered into to “put pressure on [TerraPower’s] real suppliers.” The report quoted a former TerraPower executives as stating that ASP Isotopes was “missing the manufacturing; They are missing the processes as well; They still have to develop the HALEU…the most important part.”
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, and continued to fall on the subsequent trading date, falling $0.83 or 14.19%, to close at $5.02 per share on November 27, 2024.
What Now: You may be eligible to participate in the class action against ASP Isotopes Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 3, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
To be notified if a class action against ASP Isotopes Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af960bd5-1ae2-4ed3-afe3-591b09ab920b