Shareholder Alert: Robbins LLP Reminds Investors of Class Action Against Standard Lithium Ltd. (SLI, formerly STLHF)

SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons who purchased or otherwise acquired Standard Lithium Ltd. (NYSE: SLI; formerly OTC: STLHF) securities between May 19, 2020 and November 17, 2021, for violations of the Securities Exchange Act of 1934. Standard Lithium explores for, develops, and processes lithium brine properties in the U.S. Its flagship project is the Lanxess project with approximately 150,000 acres of brine leases located in south-western Arkansas.

If you suffered a loss due to Standard Lithium Ltd.'s misconduct, click here.

Standard Lithium Ltd. (SLI) Overstated its Lithium Recovery Rates

According to the complaint, on May 19, 2020, Standard Lithium announced the successful start-up of the Company's industrial-scale Direct Lithium Extraction Demonstration Plant at Lanxess's South Plant (the "Demonstration Plant"), a purportedly "first-of-its-kinds plant" using Standard Lithium's proprietary LiSTR Direct Lithium Extraction technology. Standard Lithium expected LiSTR technology to increase lithium recovery efficiencies to more than 90%.

During the class period, defendants reaffirmed a 90% recovery rate, and failed to disclose that it had overstated the LiSTR technology's extraction recovery efficiencies. As a result, the Company's final product lithium recovery percentage at the Demonstration Plant was not as high as represented to investors.

On November 18, 2021, Blue Orca Capital published a short report alleging "Standard Lithium has been coy about disclosing any details to investors regarding the performance of the plant, only claiming that testing at the plant has been 'successful.'" The report contends that the Demonstration Plant was not achieving 90% extraction rates of battery grade lithium, but rather, "achieved an average lithium recovery rate of just 13%." The report further stated "that the Demonstration Plant is displaying negative scale, with recovery rates substantially worse the longer the plant operates and the more brine it processes." On this news, shares of Standard Lithium fell $1.86 per share, or 18.84%, to close at $8.01 per share on November 18, 2021.

If you purchased shares of Standard Lithium Ltd. (SLI) between May 19, 2020 and November 17, 2021, you have until March 28, 2022, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:
Aaron Dumas
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Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Standard Lithium Ltd. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

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