An investigation on behalf of investors of Livent Corporation (NYSE: LTHM) shares over potential securities laws violations by Livent Corporation and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Livent Corporation (NYSE: LTHM) concerning whether a series of statements by Livent Corporation (NYSE: LTHM regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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. 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 $126.10 million in 2018.
On January 7, 2020, Livent Corporation announced that the Company had 'revised its fourth quarter and full-year 2019 financial guidance' and 'now expects full-year 2019 revenue in the range of $385 million to $390 million, with Adjusted EBITDA of $98 million to $101 million and adjusted earnings per share of 40 cents to 42 cents.' Explaining the revised guidance, Livent represented that its 'fourth quarter performance was negatively impacted by lower than forecasted realized pricing and by reduced lithium hydroxide volumes due to delayed customer orders.'
Shares of Livent Corporation (NYSE: LTHM) declined to $7.45 per share On January 8, 2020.
Those who purchased shares of Livent Corporation (NYSE: LTHM) have certain options and should contact the Shareholders Foundation.
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