Livent Corporation (NYSE: LTHM) Investor Securities Class Action Lawsuit 05/22/2019

If you purchased shares of Livent Corporation (NYSE: LTHM), you have certain options and for certain investors are short and strict deadlines running. Deadline: July 22, 2019. NYSE: LTHM investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Livent
Case Name: 
Livent Shareholder Class Action Lawsuit 05/22/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: LTHM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/22/2019
Court of Filing: 
U.S. District Court for the Eastern District of Pennsylvania
Deadline To File for Lead: 
07/22/2019
Summary: 

An investor in shares of Livent Corporation (NYSE: LTHM) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Livent Corporation in connection with certain allegedly false and misleading statements made in connection with the Company’s October 2018 initial public offering (“IPO” or the “Offering”).

Philadelphia, PA based Livent Corporation manufactures and sells performance lithium compounds for energy storage, specialty polymer, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. In October 2018, Livent Corporation completed its initial public offering (“IPO”) in which it sold 23 million shares of its common stock at $17.00 per share.
On February 11, 2019, Livent Corporation released its fourth quarter 2018 financial results that missed top line sales targets, citing difficulties negotiating contracts with existing customers. Livent Corporation reported that its annual Total Revenue rose from $347.4 million in 2017 to $442.5 million in 2018 and that its Net Income increased from $42.2 million in 2017 to $126.1 million in 2018.
Then, on May 8, 2019, Livent Corporation announced disappointing financial results for first quarter 2019, citing further customer issues.

Shares of Livent Corporation (NYSE: LTHM) declined from $19.85 per share in December 2018 to as low as $7.06 per share on May 20, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Livent Corporation (NYSE: LTHM), that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants failed to disclose to investors that a supply contract with Nemaska Lithium Inc. had been terminated, that, as a result, the Company would be forced to fulfill its customer contracts using alternative vendors at reduced revenues and lower margins, that the Company had a long-standing contract to supply lithium hydroxide to a customer at a much lower price than any of the Company’s existing contracts, that the Company’s margins were squeezed due to the customer’s increased orders, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.