Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 24, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Atlas Lithium Corporation ("Atlas Lithium" or the "Company") ( ATLX). investors that a lawsuit filed on behalf of investors that purchased Atlas securities between March 25, 2022 – May 3, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], 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.
On May 4, 2023, Bleecker Street Research published a report accusing Atlas Lithium of resembling a "pump and dump" scheme, with the company's CEO having ties to a previously fined brokerage. This news led to a significant drop in Atlas Lithium's stock price, falling 43.3% to $16.93 per share.
Subsequently, investors filed a complaint against Atlas Lithium and its executives, alleging that the company had misled them during the Class Period. The complaint claims that the company overstated the success of its lithium mining operations and misrepresented the nature of its mineral rights in Brazil. Additionally, it is alleged that Atlas Lithium engaged in deceptive promotions to artificially inflate its stock value, allowing insiders to sell shares for a profit before revealing the true nature of the company's business. As a result, the positive statements made by the defendants about the company's business, operations, and prospects were allegedly materially misleading and lacked a reasonable basis throughout the relevant times.
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The Portnoy Law Firm represents investors in pursuing claims against caused by 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
[email protected]
310-692-8883
www.portnoylaw.com
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