SAN DIEGO & PHILADELPHIA–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24LTHM&src=ctag” target=”_blank”gt;$LTHMlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–Shareholder rights law firm Robbins
Arroyo LLP announces that purchasers of Livent Corporation (NYSE:
LTHM) filed a class action complaint against the company for alleged
violations of the Securities and Exchange Act of 1933 pursuant to the
company’s October 12, 2018 initial public offering (“IPO”). Livent
produces and distributes lithium chemicals.
View this information on the law firm’s Shareholder Rights Blog:
https://www.robbinsarroyo.com/livent-corporation/
Livent Accused of Inflating its IPO Price
According to the complaint, Livent held its IPO in October 2018, and
received approximately $369 million in proceeds. However, prior to the
IPO, Livent failed to disclose in its registration statement that a key
supply contract had been terminated. Rather, Livent made false
assurances that it had reached an agreement on the final wording of a
new supply agreement with the vendor. As a result of the contract
termination, Livent was forced to fulfill customer contracts using
alternative vendors at reduced revenues and lower margins. Since the
truth was revealed, Livent’s stock price has declined sharply. As of May
30, 2019, Livent’s stock was trading as low as $6.36 per share, an over
60% decline from the $17 per share IPO price.
Livent Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, [email protected],
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
