NEW YORK, July 25, 2021 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL) from March 16, 2018 through July 19, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Exchange Act of 1934.
If you purchased Piedmont securities, and/or would like to discuss your legal rights and options please visit Piedmont Shareholder Class Action Lawsuit or contact Noah Wiesner toll free at (877) 779-1414 or [email protected]
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (ii) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (iii) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (iv) Piedmont and its lithium business does not have “strong governmental support”; and (v) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
On July 20, 2021, before market hours, Reuters published an article entitled “In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.” Among other things, the article reported that “[t]he company […] has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.” The article went on to report that “[f]ive of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project[.]”
On this news, Piedmont shares fell $12.56 per share over the trading day, or nearly 20%, to close at $50.52 per share on July 20, 2021, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Piedmont securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/piedmontlithium-pll-shareholder-class-action-lawsuit-fraud-stock-420/apply/ or contact Noah Wiesner toll free at (877) 779-1414 or [email protected]
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Bernstein Liebhard LLP
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SOURCE Bernstein Liebhard LLP