SAN DIEGO, June 28, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in shares of Meta Materials Inc. (NASDAQ: MMAT).
Investors, who purchased Meta Materials Inc. (NASDAQ: MMAT) shares prior to September 21, 2020 and continue to hold any of those NASDAQ: MMAT shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com 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 over alleged securities laws violations. The plaintiff alleged that the 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 in the matter captioned In the Matter of Torchlight Energy Resources, Inc, that the Company has materially overstated its business connections and dealings, that the Company has materially overstated its ability to produce and commercialize its products, that the Company has materially overstated its products’ novelty and capabilities, that the Company’s products did not have the potential to be disruptive because, among other things, the Company priced its products too high, and that as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Several investors have applied to be lead plaintiff in the case, but the court has not yet appointed a lead plaintiff.
Those who purchased Meta Materials Inc. (NASDAQ: MMAT) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
