The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Standard Lithium Ltd. (SLI)

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming March 28, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (NYSE: SLI) securities between May 19, 2020 and November 17, 2021, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

On November 18, 2021, before the market opened, Blue Orca Capital issued a research report alleging that Standard Lithium’s claims of 90% extraction rates of battery grade lithium at its Arkansas demonstration plant has no evidence to back it up. The report claimed that “undisclosed to investors, production data submitted by Standard Lithium to the Arkansas Oil & Gas Commission appears to show that the Demonstration Plant, which has been operating for 18 months, is barely achieving a fraction of this projected recovery rate,” and that the demonstration plant has only been achieving an average lithium recovery rate of 13%.

On this news, Standard Lithium stock fell $1.86, or 18.8%, to close at $8.01 per share on November 18, 2021, thereby injuring investors.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the LiSTR technology’s extraction recovery efficiencies were overstated; (2) accordingly, the Company’s final product lithium recovery percentage at the Demonstration Plant would not be as high as the Company had represented to investors; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Standard Lithium securities during the Class Period, you may move the Court no later than March 28, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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