STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Aqua Metals, Inc. (Nasdaq: AQMS) (“Aqua Metals” or the “Company”) securities during the period between May 19, 2016 and November 9, 2017, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until February 13, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Aqua Metals securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company was: touting the business value of the Interstate Battery Partnership and the JCI Partnership; was aware of and ignoring material unresolved deficiencies in the AquaRefine technology and process preventing large scale development; was experiencing numerous execution and operational issues preventing scaling and production ramp up at its facility; and was unable to produce and generate revenue from its core business, therefore remaining unprofitable.
According to the complaint, following a May 9, 2017 conference call describing a list of unresolved and/or partially resolved issues the Company was facing with the development of its technology, an August 9, 2017 press release reporting a net loss of $8.4 million due to challenges with production, a September 27, 2017 filing regarding meetings with JCI , an October 23, 2017 press release announcing that only small quantities of lead were produced, and a November 9, 2017 press release reporting a net loss due to significant challenges, the value of Aqua Metal shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Aqua Metals securities purchased on or after May 19, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.