Aqms investor alert: law offices of howard g. smith announces the
filing of a securities class action on behalf of aqua metals, inc.
investors
Bensalem, pa.--(business wire)--law offices of howard g. smith announces that a class action lawsuit has been filed on behalf of investors that purchased aqua metals, inc.(“aqua metals” or the “company”) (nasdaq: aqms) securities between may 19, 2016 and november 9, 2017, inclusive (the “class period”). aqua metals investors have until february 13, 2018 to file a lead plaintiff motion. investors suffering losses on their aqua metals investments are encouraged to contact the law offices of howard g. smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. on may 9, 2017, aqua metals held a conference call to discuss its q1 2017 results. on the call, defendant stephen r. clarke (“clarke”), the chairman and chief executive officer (“ceo”) of aqua metals, stated that “it took longer than we planned to get the breaking and separation up and running.” on this news, the company’s stock price fell $4.34 per share, or 26%, to close at $12.31 per share on may 10, 2017, thereby injuring investors. thereafter, on august 9, 2017, the company held a conference call to discuss its q2 2017 results. on the call, clarke disclosed that the company had made and installed improvements such that “breaking and separation is now operational,” and “breaking and separation is operating reliably.” on this news, the company’s stock price fell $2.56 per share, or 23.6%, to close at $8.31 per share on august 10, 2017, thereby injuring investors. on october 23, 2017, the company issued a press release entitled “aqua metals provides update on plant’s operations.” therein, the company disclosed that aqua metals had only “produced small quantities of aquarefined lead during the commissioning process” and that “under certain conditions, the operators would need to periodically assist the lead removal.” on this news, the company’s stock price fell $0.96 per share, or 17.9%, to close at $4.41 per share on october 23, 2017, thereby injuring investors. finally, on november 9, 2017, after the market closed, aqua metals issued a press release entitled “aqua metals provides third quarter 2017 corporate update.” therein, the company revealed that it “faced . . . many challenges as [it] worked to ramp up production.” on this news, the company’s stock price fell $0.08 per share, or 2.1%, to close at $3.71 per share on november 10, 2017, thereby further injuring investors. the complaint filed in this class action alleges that throughout the class period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. specifically, defendants failed to disclose: (1) that aqua metals’ breaking and separating process was facing substantial obstacles due to aquarefining’s need for a much higher degree of separation than is normal in the industry; (2) that the company’s breaking and separating process was not operating reliably or efficiently; (3) that the breaking and separating obstacles and issues were negatively impacting the company’s output; (4) that the company’s four “operating modules” were being used primarily for experimentation, rather than production; (5) that module operators were assisting with lead removal; (6) that, as a result of the foregoing, the ramp up of the company’s recycling process was being significantly hindered and delayed; and (7) that, as a result of the foregoing, defendants’ statements about aqua metals’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. if you purchased shares of aqua metals, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact howard g. smith, esquire, of law offices of howard g. smith, 3070 bristol pike, suite 112, bensalem, pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
