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Case Status:    DISMISSED    
On or around 01/19/2024 (Date of order of final judgment)

Filing Date: July 23, 2021

According to the Complaint, Piedmont Lithium Inc. engages in the exploration and development of resource projects. Of particular note, the Company primarily holds a 100% interest in a lithium project covering 2,322 acres in North Carolina.

Until December 2018, Piedmont American Depositary Shares (“ADSs”) were listed on the NASDAQ under the ticker symbol “PLLL.” On May 17, 2021, in connection with Piedmont’s redomiciliation from Australia to the United States, Piedmont’s ADS holders received one share of Piedmont common stock for each ADS.

The Complaint alleges Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have “strong local government support”; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On February 4, 2022, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on April 8. Defendants filed a Motion to Dismiss the amended Complaint on October 7.

On January 18, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. The Court entered Judgment on January 19.

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