Livent Corporation

Case Details

Class Period:
October 7, 2018 – May 22, 2019
Date Filed:
May 22, 2019
Case Number:
2:19-cv-02218
Jurisdiction:
Pennsylvania Eastern District Court

Case Summary

The complaint filed in this class action alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. Specifically, Defendants failed to disclose to investors: (1) that a supply contract with Nemaska Lithium Inc. had been terminated; (2) that, as a result, the Company would be forced to fulfill its customer contracts using alternative vendors at reduced revenues and lower margins; (3) that the Company had a long-standing contract to supply lithium hydroxide to a customer at a much lower price than any of the Company's existing contracts; (4) that the Company's margins were squeezed due to the customer's increased orders; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Action Details

View Complaint (pdf)

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