SAN DIEGO, June 28, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. has announced an update on the ongoing lawsuit for certain investors in the shares of Meta Materials Inc. (NASDAQ: MMAT).
Investors who purchased Meta Materials Inc. (NASDAQ: MMAT) stock prior to September 21, 2020, and who continue to hold any such NASDAQ: MMAT stock, also have certain options and should contact the Shareholders Foundation at address [email protected] or call +1(858) 779 – 1554.
On January 3, 2022, a lawsuit was filed against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc for alleged violations of securities laws. Plaintiff alleged that defendants made false and/or misleading statements and/or failed to disclose that the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena. to appear in the case entitled In the Torchlight Energy Resources, Inc. case, that the Company has significantly overestimated its business relationships and transactions, that the Company has significantly overestimated its ability to produce and market its products, that the Company has significantly overestimated the novelty and capabilities of its products, that the products of the Company did not have the potential to be disruptive because, among other things, the Company priced its products too high, and as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Several investors have asked to be the lead plaintiff in the case, but the court has yet to name a lead plaintiff.
Those who have purchased Meta Materials Inc. (NASDAQ: MMAT) stock should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional legal portfolio monitoring and claims filing service that researches shareholder issues and advises investors of securities class actions, settlements, judgments and other legal news related to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. All referenced cases, investigations and/or settlements are not filed/initiated/reached and/or related to the Shareholders Foundation. The information is provided as a public service only. It is not legal advice and should not be relied upon.