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Livent Drops on Termination of Multi-Year Supply Agreement With Nemaska Lithium
02:48 PM EST, 02/19/2019 (MT Newswires) -- Shares of Livent Corporation (LTHM) fell 3.5% intraday after the company received a termination notice of its multi-year supply agreement with Nemaska Lithium Inc.
Under the terms of the contract, Nemaska was required to start supplying lithium carbonate to Livent starting April 1.
The company said Nemaska did not have a right to terminate the agreement and intended to enforce its rights. It intends to "vigorously pursue its claims."