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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Piedmont Lithium, Inc. Investors: Company Investigated by the Portnoy Law Firm

July 22, 2021 GMT

LOS ANGELES, July 22, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Piedmont Lithium, Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

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Reuters reported on July 20, 2021 that a majority of county officials in Gaston County, North Carolina say they may delay or block Piedmont’s plan to build the largest lithium mine in the U.S., as a result of Piedmont failing to inform them of any potential environmental impacts, including effects on noise, dust, vibrations, water and air quality.

Piedmont has repeatedly delayed the process, despite promising investors as early as 2018 that it would obtain permits by 2019. Piedmont cancelled a planned meeting with county commissioners in March 2021, with three days’ notice, leading one commissioner to say, “This has been the worst rollout of a project from a company I’ve ever seen.” Piedmont has previously told investors it was “not aware” of any potential roadblocks to receiving permitting, despite the fact that they had not yet presented any information to the county government.

In 2020, Piedmont signed a deal with Tesla, causing its stock to skyrocket, with its proposed mine on track to be the largest lithium mine in the US.

At the close of July 20, 2021, Piedmont’s stock price plummeted nearly 20%, following news of trouble with its planned mine, causing significant harm to investors.

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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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