Lawsuits Filed Against SLI, BFLY and MP – Jakubowitz Law Pursues Shareholder Claims
NEW YORK, NY/ACCESSWIRE/March 10, 2022/ Jakubowitz Law announces that a securities fraud class action lawsuit has been filed on behalf of shareholders of the following publicly traded companies who purchased stock during the class action periods listed below. Shareholders interested in representing the category of aggrieved shareholders have until the deadline of the principal plaintiff to bring their case before the court. Your ability to participate in any collection does not require you to serve as the lead plaintiff. For more details and to speak with our firm at no cost or obligation, follow the links below.
Standard Lithium Ltd. (NYSE: SLI)
CONTACT JAKUBOWITZ ABOUT SLI:
Course period: May 19, 2020 – November 17, 2021
Lead Applicant Deadline: March 28, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the extraction recovery efficiencies of the LiSTR Direct Lithium Extraction technology were overstated; (ii) as a result, the percentage recovery of lithium from the Company’s final product at the demonstration plant would not be as high as what the Company had represented to investors; and (iii) as a result, the Company’s public statements were materially false and misleading at all material times.
Butterfly Network, Inc. f/k/a Longview Acquisition Corp. (NYSE: BFLY)
This lawsuit is on behalf of: (a) all persons or entities who purchased or otherwise acquired Butterfly securities between February 16, 2021 and November 15, 2021, both dates inclusive and/or (b) all holders of common stock of Butterfly on the record date of the special meeting of shareholders held on February 12, 2021 to consider approval of the merger between Longview Acquisition Corp. and Butterfly.
Lead Applicant Deadline: April 18, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Butterfly exaggerated its post-merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly’s financial projections did not take into account the general consequences of the pandemic, which included healthcare logistical challenges and medical staff fatigue; (iii) as a result, Butterfly’s gross margin levels and revenue projections were less sustainable than the Company had represented; (iv) any of the foregoing was reasonably likely to have a material adverse impact on Butterfly’s business and financial condition; and (v) as a result, the Company’s public statements were materially false and misleading at all material times.
MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (NYSE:MP)
CONTACT JAKUBOWITZ ABOUT deputy:
Course period: May 1, 2020 – February 2, 2022
Lead Applicant Deadline: April 25, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Fortress Value Acquisition Corp. (“FVAC”) had overstated its due diligence efforts and expertise in identifying target companies for acquisition; (ii) FVAC performed inadequate due diligence on Legacy MP Materials prior to the business combination, or ignored important red flags regarding, among other things, Legacy MP Materials’ management, compliance policies and profitability of Mountain Pass; (iii) as a result, the Company’s future business and financial prospects after the business combination were overstated; (iv) MP Materials engaged in an abusive transfer pricing scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) MP Materials ore at the Mountain Pass rare earth mine and processing facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company’s public statements were materially false and misleading at all material times.
The Jakubowitz Act is vigorous in its pursuit of justice for shareholders who have been victims of securities fraud. Lawyer advertisement. Prior results do not guarantee similar results.
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