NEW YORK, NY / ACCESSWIRE / September 29, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Piedmont Lithium Inc. ("Piedmont Lithium" or the "Company") (NASDAQ: PLL). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Piedmont Lithium and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 12, 2024, Macquarie downgraded Piedmont Lithium to Neutral from Outperform, citing concerns over the Company's cash generation capabilities and financial commitments. Specifically, Macquarie concluded that the Company's North American Lithium operation is challenged due to high production costs and low realized lithium prices, placing its only cash generation source at risk.
Following the downgrade, Piedmont Lithium's stock price fell $0.96 per share, or 11.57%, to close at $7.34 per share on August 12, 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP