SAN FRANCISCO, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Standard Lithium Ltd. (NYSE: SLI) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.  

Class Period: May 19, 2020 – Nov. 17, 2021
Lead Plaintiff Deadline: Mar. 28, 2022
Visit: https://www.hbsslaw.com/investor-fraud/SLI
Contact An Attorney Now: [email protected]
844-916-0895

Standard Lithium Ltd. (SLI) Securities Fraud Class Action:

The litigation focuses on Standard Lithium’s claims that its proprietary LiSTR technology has achieved proof of concept (“POC”) demonstrating its feasibility for extracting and processing lithium within hours instead of months and claims it will do so on a commercial scale at a plant built on the LANXESS AG bromine facility located in the southwestern region of Arkansas.

According to the complaint, defendants made false or misleading statements and/or failed to disclose that (1) the LiSTR technology’s extraction recovery efficiencies were overstated, and (2) accordingly, the company’s final product lithium recovery percentage at the plant would not be as high as the company had represented to investors.

Standard Lithium’s statements were brought into question on Nov. 18, 2021, when analyst Blue Orca published a scathing report based, in part, on production records filed by the company with the Arkansas Oil & Gas Commission. According to the report, Standard Lithium’s repeated claims that its technology will achieve 90% lithium recovery rates at the project are contradicted by data submitted to the Arkansas regulator indicating an average lithium recovery rate of just 13%.

Then, on Feb. 2, 2022, analyst Hindenburg Research published its own report accusing Standard Lithium of being little more than a stock promotion scheme, observing that CEO Robert Mintak had previously been involved with at least 9 publicly traded companies (8 of which used paid stock promotions) that lost on average 97% of their value, and concluding the company had engaged in undisclosed related party transactions.

These events sent the price of Standard Lithium shares sharply lower.

“We’re focused on investors’ losses and proving Standard Lithium lied about the viability of its technology and proposed project,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Standard Lithium and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Standard Lithium should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895