NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Atlas Lithium Corporation (“Atlas” or the “Company”) (NASDAQ: ATLX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Atlas and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 4, 2023, Bleecker Street Research (“Bleecker Street”) published a report entitled “Atlas Lithium (ATLX): First Comes The Pump… Now Here Comes the Dump”. The Bleecker Street report described Atlas Lithium as a “pretender” and stated that “it resembles many of the characteristics of a pump and dump.” The report alleged that Atlas Lithium’s “predecessor company did a similar promotion before bagging retail investors”; that “Atlas Lithium’s CEO was previously associated with Hunter Wise Securities, a broker fined $105 million for claiming to sell physical gold that it didn’t have”; and that “[a] similarly disastrous bank handled ATLX’s most recent offering and uplisting in early January.” On this news, Atlas Lithium’s stock price fell sharply during intraday trading on May 4, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
