LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Piedmont Lithium Inc. (“Piedmont” or “the Company”) (NASDAQ: PLL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Reuters published an article on July 20, 2021, titled: “In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.” According to the article, the Company “has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.” The article continues, “five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected,” and quotes the chair of the board of commissioners as stating that “Piedmont has sort of put the proverbial cart before the horse.” According to Reuters, “state officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies,” and quoted the director of Gaston County's planning and zoning office stating that “I’m not even going to accept an application from Piedmont for rezoning until they have their state permit in hand.” Based on this news, shares of Piedmont traded down by almost 20% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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