Aqua Metals, Inc.

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According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Aqua Metals’ lead recycling process using its AquaRefining technology to break and separate batteries was facing substantial obstacles due to AquaRefining’s need for a much higher degree of separation than is normal in the industry; (2) Aqua Metals’ breaking and separating process was not operating reliably or efficiently; (3) the breaking and separating issues were negatively impacting Aqua Metals’ output; (4) Aqua Metals’ four “operating modules” were being used primarily for experimentation rather than production; (5) module operators were assisting with lead removal; (6) as a result, the ramp up of Aqua Metals’ recycling process was being significantly hindered and delayed; and (7) consequently, defendants’ statements about Aqua Metals’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

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