NEW YORK, NY / ACCESSWIRE / November 21, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Oklo Inc. ("Oklo" or the "Company") (NYSE:OKLO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Oklo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 20, 2024, Kerrisdale Capital ("Kerrisdale") published a short report on Oklo, which it described as "a $3B nuclear energy company that went public via SPAC six months ago - with no regulator-approved design, no revenue for years, and no proven commercial viability for its planned 15-50 MWe microreactors." The Kerrisdale report asserted that Oklo faces massive technical and financial challenges" in its quest to become the owner-operator of hundreds of nuclear "powerhouses" and that "[i]n classic SPAC fashion, Oklo has sold the market on inflated unit economics while grossly underestimating the time and capital it will take to commercialize its product. . . . Virtually every aspect of Oklo's investment case warrants skepticism."
Following publication of the Kerrisdale report, Oklo's stock price fell $0.85 per share, or 3.9%, to close at $20.95 per share on November 20, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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SOURCE: Pomerantz LLP
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