Chemical Co. Misled Investors Before IPO, Investor Suit Says

Law360 (May 23, 2019, 5:02 PM EDT) -- A Philadelphia-based chemical manufacturer was hit Wednesday with a shareholder lawsuit in federal court alleging that documents it filed in advance of its initial public offering last year omitted key facts about its business operations, resulting in missed sales targets and tumbling stock values.

Bisser Nikolov, an investor who says he lost money after buying Livent Corp. stock following an IPO in October, alleged that a registration statement the company filed before going public failed to disclose that it had lost a deal with a key lithium supplier, which ultimately resulted in Livent having to rely on new vendors at reduced...

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