SHAREHOLDER ALERT: Robbins LLP Investigated Piedmont Lithium Inc. (PLL) on Behalf of Shareholders

·2 min read

SAN DIEGO, October 19, 2021--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces it is investigating Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited (NASDAQ: PLL) to determine whether certain Piedmont officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Piedmont engages in the exploration and development of resource projects and holds a 100% interest in a lithium project covering 2,322 acres in North Carolina.

If you would like more information about Piedmont Lithium Inc.'s misconduct, click here.

Piedmont Lithium Inc. (PLL) is Accused of Misleading Investors Regarding its Timeliness in Obtaining Permits

According to a class action complaint filed on behalf of purchasers of Piedmont between March 16, 2018 and July 19, 2021, defendants touted its plan to mine in North Carolina and warned of the risks associated with the Company's failure to obtain the necessary permits. In 2019, the Company informed investors it had submitted "key permit applications," was in the process of "secur[ing] the necessary permits and approvals to commence mining and processing operations," and "look[ed] forward to deliver a DFS for a fully permitted integrated project by the end of 2020." However, by January 2021, the Company had not secured the proper permits to begin its project.

On July 20, 2021, Reuters published an article explaining that while the Company announced a deal to supply Tesla Inc. with lithium sourced from its deposits in North Carolina, it had done nothing to obtain state mining permits or zoning variance in Gaston County. The article also highlighted the deteriorating relationship between Piedmont and county leaders. On this news, Piedmont shares fell $12.56 per share, or nearly 20%, to close at $50.52 per share on July 20, 2021, damaging investors.

Piedmont Lithium Inc. (PLL) shareholders have legal options. If you own shares of Piedmont Lithium Inc., contact us to learn more about your rights.

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

Contact us to learn more:

Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
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 Piedmont Lithium Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

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Contacts

Aaron Dumas
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
adumas@robbinsllp.com
(800) 350-6003
www.robbinsllp.com

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