November 16, 2020 - The court partially granted the defendants' motion to dismiss.

September 20, 2019 - An amended consolidated complaint was filed.

August 14, 2019 - The court granted in part and denied in part the defendants' motion to dismiss.

September 18, 2018 - A motion to dismiss the consolidated complaint was filed.

July 20, 2018 - A consolidated complaint was filed.

December 15, 2017 - An investor in shares of Aqua Metals Inc (NASDAQ:AQMS) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Aqua Metals Inc in connection with certain allegedly false and misleading statements made between February 9, 2017 and November 9, 2017.

Alameda, CA based Aqua Metals, Inc. is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. On May 9, 2017, Aqua Metals stock fell more than 27% following disclosures that the Company would report a $4.5M loss for the first quarter of 2017 and was facing “unique” challenges as it “ramped up” operations. Shares of Aqua Metals Inc (NASDAQ:AQMS) declined from $19.92 per share in March 2017 to $2.90 per share on November 15, 2017.

On August 9, 2017, Aqua Metals, Inc held a conference call to discuss its Q2 2017 results. On the call, the the Chairman and Chief Executive Officer Stephen R. Clarke disclosed that the Company had made and installed improvements such that “breaking and separation is now operational,” and “breaking and separation is operating reliably.”
On October 23, 2017, Aqua Metals, Inc issued a statement entitled “Aqua Metals Provides Update on Plant’s Operations.” Therein, Aqua Metals, Inc disclosed that it had only “produced small quantities of AquaRefined lead during the commissioning process” and that “under certain conditions, the operators would need to periodically assist the lead removal.”
On November 9, 2017, after the market closed, Aqua Metals, Inc issued a press release entitled “Aqua Metals Provides Third Quarter 2017 Corporate Update.” Therein, Aqua Metals, Inc revealed that it “faced . . . many challenges as [it] worked to ramp up production.”

According to the complaint the plaintiff alleges on behalf of purchasers of Aqua Metals Inc (NASDAQ:AQMS) common shares between February 9, 2017 and November 9, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 9, 2017 and November 9, 2017, the Defendants failed to disclose that Aqua Metals’ breaking and separating process was facing substantial obstacles due to AquaRefining’s need for a much higher degree of separation than is normal in the industry, that the Company’s breaking and separating process was not operating reliably or efficiently, that the breaking and separating obstacles and issues were negatively impacting the Company’s output, that the Company’s four “operating modules” were being used primarily for experimentation, rather than production, that module operators were assisting with lead removal, that, as a result of the foregoing, the ramp up of the Company’s recycling process was being significantly hindered and delayed, and that, as a result of the foregoing, Defendants’ statements about Aqua Metals’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Shares of Aqua Metals Inc (NASDAQ:AQMS) declined on December 14, 2017 to $1.91 per share.