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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Aqua Metals, Inc. (AQMS)

NEW YORK, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Aqua Metals, Inc. (“Aqua Metals” or the “Company”) (NASDAQ:AQMS) in the United States District Court for the Northern District of California on behalf of a class consisting of investors who purchased or otherwise acquired Aqua Metals securities on the open market from February 9, 2017 and November 9, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Aqua Metals’ breaking and separating process was facing substantial obstacles due to AquaRefining’s need for a much higher degree of separation than is normal in the industry; (2) that the Company’s breaking and separating process was not operating reliably or efficiently; (3) that the breaking and separating obstacles and issues were negatively impacting the Company’s output; (4) that the Company’s four “operating modules” were being used primarily for experimentation, rather than production; (5) that module operators were assisting with lead removal; (6) that, as a result of the foregoing, the ramp up of the Company’s recycling process was being significantly hindered and delayed; and (7) that, as a result of the foregoing, Defendants’ statements about Aqua Metals’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the February 13, 2018 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

/EIN News/ --

Distribution channels: Consumer Goods, Law