On September 28, 2025, Skadden secured the dismissal of a putative securities class action on behalf of Standard Lithium Ltd. and several individuals in the U.S. District Court for the Eastern District of New York. The plaintiff asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, alleging Standard Lithium made material misstatements and omissions concerning its pilot lithium extraction plant in Arkansas and its proprietary LiSTR technology between May 19, 2020, and February 3, 2022. Specifically, the plaintiff relied on two short seller reports to allege four general categories of alleged misrepresentations: (1) statements about the recovery rates and production capabilities of Standard Lithium’s technology, (2) statements about the plant’s achievement of proof of concept for lithium extraction, (3) statements about the scalability and commercial viability of the LiSTR process and (4) statements describing LiSTR as “novel,” “proprietary” and “protected by a series of patent applications.”
Judge Eric Komitee agreed with our team’s arguments and dismissed the plaintiff’s claims in their entirety. The Skadden team included Alexander Drylewski.