This lawsuit is for anyone who acquired securities in Atlas Lithium Corporation (NASDAQ: ATLX) from March 25, 2022 through May 3, 2023.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by overstating the success of the Company’s lithium mining and misrepresenting the nature of its Brazilian mineral rights. In connection with these misrepresentations, the Company conducted deceptive promotions to artificially inflate the value of the Company’s stock.
On May 4, 2023, Bleecker Street Research published a report entitled “Atlas Lithium (ATLX): First Comes The Pump… Now Here Comes the Dump” (the “Bleecker Street Report”). The Bleecker Street Report described Atlas Lithium as a “pretender” and stated that “it resembles many of the characteristics of a pump and dump.” The report alleged that Atlas Lithium’s “predecessor company did a similar promotion before bagging retail investors”; that “Atlas Lithium’s CEO was previously associated with Hunter Wise Securities, a broker fined $105 million for claiming to sell physical gold that it didn’t have”; and that “[EF Hutton, a] similarly disastrous bank[,] handled ATLX’s most recent offering and uplisting in early January.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Atlas Lithium Corporation (NASDAQ: ATLX) from March 25, 2022 through May 3, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
3070 Bristol Pike, Suite 112, Bensalem, PA 19020 
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hsmith@howardsmithlaw.com