| COMPANY |
Piedmont Lithium Inc. |
| COURT |
United States District Court for the Eastern District of New York |
| CASE NUMBER |
21-cv-04161 |
| JUDGE |
The Honorable Orelia E. Merchant |
| CLASS PERIOD |
March 16, 2018 - July 19, 2021 |
| SECURITY TYPE |
All Securities |
Case Background:
The Class Period commences on March 16, 2018, when Piedmont filed a Registration Statement on a Form 20-F. On June 14, 2018, Piedmont issued a press release entitled “PIEDMONT LITHIUM ANNOUNCES MAIDEN MINERAL RESOURCE” which stated, in part, its “strategy of building an integrated lithium processing business based on proven, conventional technologies and benefitting from the inherent advantages of Piedmont’s strategic North Carolina location, including; … [s]trong local government support.” Throughout the Class Period, Piedmont informed investors regarding its plan for completing necessary permitting and zoning activities required to commence mining and processing operations in North Carolina.
The complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) Piedmont had not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business did not have “strong local government support”; and (5) as a result, the Defendants’ public statements were materially false and/or misleading at all relevant times.
Current Status of Case:
On January 18, 2024, the Court entered an Order granting Defendants’ Motion to Dismiss in its entirety and entered Judgment closing the case on January 19, 2024. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.