ASP Isotopes Investors Advance Deception Suit, Gain Class Status

ASP Isotopes Inc. investors adequately alleged several intentionally misleading statements about the company’s ability to enrich uranium and can represent a shareholder class, a federal court ruled.

A number of company slides and statements are actionable as material misrepresentations because they implied then-current experimentation or operations to separate isotopes of uranium, Judge Colleen McMahon said Thursday for the US District Court for the Southern District of New York.

The investors, who sued over a pair of November 2024 stock drops following a short-seller report, sufficiently pleaded the necessary level of intent for a securities fraud claim, McMahon said. They claimed ...