Shares of ASP Isotopes were down over 20% on November 26, 2024, following a report from Fuzzy Panda Research alleging serious concerns about the company’s technological capabilities, business practices, and partnerships. The report claims that ASP Isotopes is promoting outdated uranium enrichment technology while relying on paid stock promotions, potentially misleading investors about its capabilities.
A lawsuit has been filed against ASP Isotopes, and certain of its executives, alleging that Defendants failed to disclose to investors: (1) the Company overstated the potential effectiveness of its enrichment technology; (2) the Company overstated the development potential of its high assay low-enriched uranium facility; (3) the Company overstated the Company's nuclear fuels operating segment results; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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