Class Action Suit Filed Against ASP Isotopes Inc. Following Controversial Report

Investors Urged to Take Action – The Law Offices of Howard G. Smith has announced a class action lawsuit on behalf of investors who bought shares of ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) ASPI between October 30, 2024, and November 26, 2024 (referred to as the “Class Period”). Investors have until February 3, 2025 to file a lead plaintiff motion.

Investors Encouraged to Discuss Rights – Those who have suffered losses related to ASP Isotopes investments are invited to contact the Law Offices of Howard G. Smith at 888-638-4847 or via email at howardsmith@howardsmithlaw.com to explore their legal options.

Controversy Arises after Report – On November 26, 2024, Fuzzy Panda Research released a report alleging that ASP Isotopes is utilizing outdated laser enrichment technology falsely branded as new. This report cited a former employee of Klydon, the company from which ASP Isotopes acquired its claimed “proprietary” technology, suggesting doubts about the technology’s efficacy on Uranium. Furthermore, multiple experts interviewed challenged the Company’s purported cost estimates and timelines for establishing its HALEU uranium facilities, calling them “delusional.” The report also emphasized that ASP Isotopes had overstated its agreement with TerraPower, describing it as merely a “non-binding” memorandum of understanding aimed at pressuring TerraPower’s real suppliers. A former TerraPower executive commented that ASP Isotopes was lacking essential manufacturing processes necessary for development.

Stock Price Plummets – Following the Fuzzy Panda report, ASP Isotopes’ stock experienced a dramatic decline, falling $1.80 or 23.53% to close at $5.85 per share on November 26, 2024, with heavy trading activity. The stock did not stabilize, dropping further by $0.83 or 14.19% to end at $5.02 per share on November 27, 2024.

Allegations of Misleading Information – The lawsuit claims that throughout the Class Period, Defendants made materially false or misleading statements. Notably, they allegedly exaggerated the effectiveness of their enrichment technology and the viability of their uranium facility, as well as inflated the operating results of their nuclear fuels segment. As a result, the positive remarks made about the Company’s prospects were deemed misleading and lacked a proper foundation.

Steps for Investors – Investors who purchased ASP Isotopes stocks, possess relevant information, or wish to learn more about their rights or this situation should reach out to Howard G. Smith, Esquire, of Law Offices of Howard G. Smith at 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020. He can be contacted by phone at (215) 638-4847 or via email at howardsmith@howardsmithlaw.com. Additional details can be found on their website at www.howardsmithlaw.com.

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