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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Who Suffered Losses Over $50,000 In ASP Isotopes To Contact Him Directly To Discuss Their Options.
If you have a loss of more than $50,000 in Isotopes of ASP between 30 October 2024 and 26 November 2024 and you would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live to 877-247-4292 or 212-983-9330 (Ext. 1310).
(You can also click here for more information)
New York, New York–(Newsfile Corp. – January 4, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI) and reminds investors of February 3, 2025 deadline seeking the role of lead plaintiff in a federal class action against the Company.
Faruqi & Faruqi is a leading national security law firm with offices in New York, Pennsylvania, California and Georgia. The firm has raised hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company exceeded the potential success of its development technology; (2) the Company has outsourced the development of its high-grade low-grade uranium facility; (3) the Company has exaggerated the results of the Company’s nuclear fuel operations; and (4) that, as a result of the foregoing, the Defendants’ positive statements regarding the Company’s business, operations, and prospects were materially misleading and/or had no reasonable basis .
On November 26, 2024, Fuzzy Panda Research published a report that claimed that ASP Isotopes “uses old laser enhancement technology to masquerade as a new advanced asset.” The report quoted a former employee of Klydon (the company ASP Isotopes bought its “proprietary” technology from) as saying that scientists “didn’t think it would work on Uranium.” The report revealed a series of experts interviewed said the Company’s reported cost estimates and construction time for its HALEU uranium facilities were misleading to the point of being “deceptive.” The report goes on to say that the Company had exaggerated the importance of its agreement with TerraPower, which was only a “non-binding memorandum” of understanding entered into to “put pressure on (TerraPower’s) actual suppliers.” The report quoted former TerraPower executives as saying that ASP Isotopes was “missing production; They lack functionality as well; they still have to develop HALEU … the most important part.” Finally, the report revealed that the Company’s subsidiary, Quantum (NASDAQ:) Leap Energy, which runs its nuclear fuel division and which the Company has provided in TerraPower’s memorandum of understanding, was completely absent from its registered South African address. The report revealed that there were “zero signs” of their presence and “security guards and neighboring businesses”. they all said said they had never heard of the companies.”
In this news, the price of the Company’s stock decreased by $1.80 or 23.53%, to close at $5.85 per share on November 26, 2024, with unusually heavy trading volume.
The price continued to fall on the following trading day, falling by $ 0.83 or 14.19%, to close at $ 5.02 per share on November 27, 2024, with unusually heavy trading volume.
The lead plaintiff appointed by the court is the investor with the greatest financial interest in the relief sought by a reasonable and common class of class members conducting and overseeing the case on behalf of the putative class. Any member of the arbitration panel may have the Court act as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent panel member. Your ability to participate in any recovery is not affected by the decision to serve as the lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information about ASP Isotopes’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Advertising Attorney. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Preliminary results do not guarantee or predict the same result on any future issue. We welcome the opportunity to discuss your matter. All communications will be held confidentially.
To view the source version of this release, please visit https://www.newsfilecorp.com/release/236012
