NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ASP Isotopes Inc. ("ASPI" or the "Company") (NASDAQ: ASPI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether ASPI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 26, 2024, Fuzzy Panda Research ("Fuzzy Panda") published a short report alleging that ASPI is utilizing outdated laser enrichment technology and is connected to individuals previously charged with securities fraud. Specifically, Fuzzy Panda claimed that ASPI is masquerading as a new, innovative Uranium enrichment company while in reality, it is leveraging old and uneconomic technology, and the report cites conversations with former executives from customers and competitors who have deemed ASPI's technology virtually worthless. Fuzzy Panda further stated that ASPI's technology was once considered for acquisition by Centrus Energy Corp., a nuclear fuel supplier, but was rejected as it was not valued even at $2 million. Finally, the report concludes by asserting that ASP Isotopes might be the most egregious case yet of a paid stock promotion based on outdated technology, with a history of government research indicating that the technology is commercially nonviable.
On this news, ASPI's stock price fell $1.80 per share, or 23.53%, to close at $5.85 per share on November 26, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
