Lead Plaintiff Deadline is February 3, 2025
CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
NEW YORK, Dec. 23, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased or otherwise acquired ASP Isotopes Inc. ("ASP Isotopes" or the "Company") (NASDAQ: ASPI) securities between October 30, 2024 and November 26, 2024, inclusive (the "Class Period").
CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
On November 26, 2024, Fuzzy Panda Research published a report which alleged that ASP Isotopes is "using old, disregarded laser enrichment technology to masquerade as a new, cutting-edge Uranium enrichment." The report quoted a former employee of Klydon (the company ASP Isotopes purchased its "proprietary" technology from) as stating scientists "did not think it would work on Uranium." 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." It 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."
Finally, the report revealed that the Company's subsidiary, Quantum Leap Energy, which operates its nuclear fuels segment and to which the Company assigned the TerraPower memoranda of understanding, did not actually exist at the registered South African address. Reportedly, there were "zero signs" of their presence and "security guards and neighboring business about them all told us they had never heard of the companies."
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.
If you have incurred losses, you may, no later than February 3, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
