Philadelphia, Pennsylvania--(Newsfile Corp. - December 6, 2024) - Berger Montague PC advises investors that a securities class action lawsuit has been filed against ASP Isotopes Inc. ("ASP Isotopes" or the "Company") (NASDAQ: ASPI) on behalf of purchasers of ASP Isotopes securities between October 30, 2024 through November 26, 2024, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired ASP ISOTOPES securities during the Class Period may, no later than FEBRUARY 3, 2025, seek to be appointed as a lead plaintiff representative of the class. 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.net or (215) 875-3048, or 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 purports to have multiple isotope enrichment plants 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) overstated the potential effectiveness of its enrichment technology; (2) overstated the development potential of its high-assay low-enriched uranium (HALEU) facility; and (3) overstated the Company's nuclear fuels operating segment results.
Investors learned the truth on November 26, 2024, when Fuzzy Panda Research published a report alleging that ASP Isotopes was "using old, disregarded laser enrichment technology to masquerade as a new, cutting-edge Uranium enrichment." The report, which drew upon interviews with former employees and industry experts, 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 "delusional." The report further alleged the Company had significantly overstated the significance of its agreement with TerraPower and misled investors as to the involvement of subsidiary Quantum Leap Energy in the proposed TerraPower relationship.
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, on unusually heavy trading volume. The stock 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.
Learn More About the Lawsuit
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
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