Piedmont Lithium Inc. (PLL) Under Investigation for False Statements in Connection with March 2021 Public Offering

Schubert Jonckheer & Kolbe LLP is investigating possible securities fraud claims in connection with the March 25, 2021 public offering conducted by Piedmont Lithium Inc. (NASDAQ: PLL). 

On March 25, 2021, Piedmont Lithium conducted a public securities offering in which it generated proceeds of $122.5 million. As alleged in a class action lawsuit currently pending against the company in the Eastern District of New York, Piedmont Lithium represented to purchasers before the offering that the company had strong local government support for its North Carolina mining project and was in active discussions with authorities concerning required zoning changes, among other things. However, on July 20, 2021, reporting by Reuters revealed for the first time that the company lacked strong local government support and had not yet spoken with relevant authorities nor sought necessary permits and zoning variances for the project. Piedmont Lithium’s shares fell nearly 20% on these stunning revelations.

If you purchased shares in Piedmont Lithium’s March 25, 2021 public offering and wish to obtain additional information about your legal rights, please complete the form below for a free legal consultation.