Class Action Alert: ASP Isotopes Investors Should Act Before February 3, 2025

Glancy Prongay & Murray LLP (“GPM”) is reminding investors about an important deadline. Investors who bought or acquired securities of ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) ASPI from October 30, 2024, to November 26, 2024 (the “Class Period”) should file a lead plaintiff motion by February 3, 2025.

Learn About Your Rights as an Investor

If you experienced a financial loss with ASP Isotopes investments or want to know about pursuing claims under federal securities laws, you can visit www.glancylaw.com/cases/ASP-Isotopes-Inc/ to submit your contact information. For direct assistance, contact Charles H. Linehan at GPM by calling 310-201-9150, toll-free at 888-773-9224, or via email at shareholders@glancylaw.com.

Allegations and Stock Price Impact

On November 26, 2024, a report from Fuzzy Panda Research claimed that ASP Isotopes was using outdated technology while misrepresenting its Uranium enrichment capabilities. The report quoted a former Klydon employee, stating that experts believed the technology would not work with Uranium. Further claims pointed to misleading cost estimates for the Company’s HALEU uranium facilities, which experts described as “delusional.” Additionally, the report suggested that ASP Isotopes exaggerated its agreement with TerraPower, noting it was merely a “non-binding” understanding. A former TerraPower executive added that ASP Isotopes lacked necessary manufacturing processes and had yet to develop critical aspects of the HALEU operations. It was also highlighted that the subsidiary, Quantum Leap Energy, had no visible presence at its registered location in South Africa.

Following this news, ASP Isotopes’ stock price dropped sharply. On November 26, 2024, the stock fell by $1.80, a decrease of 23.53%, closing at $5.85 per share on unusually high trading volume. The drop continued the next trading day, with another decline of $0.83 (14.19%), ending the day at $5.02 per share.

Details of the Class Action Complaint

The complaint in this class action alleges that during the Class Period, ASP Isotopes made false claims and failed to disclose significant negative information about its business operations. Investors were not informed that: (1) the Company misrepresented its enrichment technology’s effectiveness; (2) the development potential of its HALEU facility was overstated; (3) the performance of the nuclear fuels segment was exaggerated; and (4) these misleading statements created a false narrative about the Company’s prospects.

Next Steps for Affected Investors

If you purchased ASP Isotopes securities during the Class Period, you must act by the February 3, 2025 deadline to ask the Court to appoint you as lead plaintiff in the class action lawsuit. You do not need to take any action immediately to be part of the class; you can either hire a lawyer or remain an inactive class member. For more details about this class action or any questions regarding your rights, reach out to Charles Linehan at GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by phone at 310-201-9150, toll-free at 888-773-9224, or email at shareholders@glancylaw.com. Please include your mailing address, phone number, and number of shares purchased in any email communication.

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View the source version on businesswire.com:
https://www.businesswire.com/news/home/20241206366261/en/