Press release
Lawsuit filed for Investors in shares of Standard Lithium Ltd. (NYSE: SLI)
A lawsuit was filed on behalf of investors in Standard Lithium Ltd. (NYSE: SLI) shares over alleged securities laws violations.
Investors who purchased shares of Standard Lithium Ltd. (NYSE: SLI) have certain options and for certain investors are short and strict deadlines running. Deadline: March 28, 2022. NYSE: SLI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Vancouver, Canada based Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States.
On May 19, 2020, Standard Lithium Ltd announced the successful start-up of the Company's industrial-scale Direct Lithium Extraction Demonstration Plant at Lanxess's South Plant facility in southern Arkansas (the "Demonstration Plant"), a purportedly "first-of-its-kind plant" using Standard Lithium's proprietary LiSTR Direct Lithium Extraction ("LiSTR") technology. According to the Company, one of the key features of the LiSTR technology was that it increased lithium recovery efficiencies to more than 90%.
On November 18, 2021, Blue Orca Capital ("Blue Orca") published a short report alleging that Standard Lithium's claims of achieving of 90% extraction rates of battery grade lithium at its Arkansas demonstration site are not supported by previously undisclosed data filed by the Company with the state regulator, which indicated significantly lower recovery rates.
Shares of Standard Lithium Ltd. (NYSE: SLI) declined from $12.97 per share on October 27, 2021, to as low as $6.75 per share on November 18, 2021.
The plaintiff claims that between May 19, 2020 and November 17, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that the LiSTR technology's extraction recovery efficiencies were overstated; (ii) accordingly, the Company's final product lithium recovery percentage at the Demonstration Plant would not be as high as the Company had represented to investors, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Standard Lithium Ltd. (NYSE: SLI) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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