Livent Corporation. The Law Offices of Vincent Wong announce that a securities lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Livent Corporation (“Livent” or the “Company”) (NYSE: LTHM) shares pursuant to the IPO in or around October 11, 2018.
The complaint alleges that the defendants made materially false and misleading statements in the Offering Documents concerning the Company’s business, operational and compliance policies. Specifically, Defendants failed to disclose to investors: (1) that a supply contract with Nemaska Lithium Inc. had been terminated; (2) that, as a result, the Company would be forced to fulfill its customer contracts using alternative vendors at reduced revenues and lower margins; (3) that the Company had a long-standing contract to supply lithium hydroxide to a customer at a much lower price than any of the Company’s existing contracts; (4) that the Company’s margins were squeezed due to the customer’s increased orders; and (5) 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.
If you purchased Livent stock pursuant to the IPO you have until July 22, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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