NEW YORK, Dec. 9, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against ASP Isotopes Inc. (“ASPI” or the “Company”) (NASDAQ: ASPI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether ASPI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until February 3, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired ASPI securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On October 30, 2024, the Company announced it had entered into a term sheet with TerraPower, LLC “related to the construction of a uranium enrichment facility capable of producing High Assay Low-Enriched Uranium (HALEU) and the future supply of HALEU to TerraPower.”
Then, on November 26, 2024, Fuzzy Panda Research published a report alleging that the Company is “using old, disregarded laser enrichment technology to masquerade as a new, cutting-edge Uranium enrichment.” Citing interviews with experts, the report alleged that 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.” The report also alleged that the Company’s subsidiary, Quantum Leap Energy, appeared to be completely absent from its registered South African address.
On this news, ASP’s stock price fell $2.63 per share, or 34.38%, over the following two trading sessions, to close at $5.02 per share on November 27, 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
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
