Trending...
- ANSI BSR Upholds Appeal of AFDE Member Andrew Sulner, MSFS, JD, finding the AAFS Academy Standards Board (ASB) Violated ANSI Essential Requirements
- 100 Word Fiction Releases Issue #2: Forty Stories, One Hundred Words Each
- RAS AP Consulting Spotlights Managed AP Governance™ at Esker All Access
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming March 4, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. ("Meta" or the "Company") (NASDAQ: MMAT) securities between September 21, 2020 and December 14, 2021, inclusive (the "Class Period").
Investors suffering losses on their Meta investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On November 15, 2021, Meta released its third quarter financial report and subsequently revealed that the Company had received a subpoena from the Securities and Exchange Commission ("SEC") in September investigating Meta's merger with Torchlight Energy Resources, Inc.
On this news, Meta's stock fell 3.9% to close at $4.77 per share on November 16, 2021, thereby injuring investors.
More on The PennZone
Then, On December 14, 2021, Kerrisdale Capital published a report alleging numerous issues including: "disappearing segments, misleading product claims, fake medical devices, research funding for subsidiaries that don't exist, and circumstances so questionable around a penny stock reverse merger that it's now the subject of an SEC Enforcement subpoena."
On this news, Meta's stock fell $0.18 per share, or 5.83%, to close at $2.91 per share on December 14, 2021, thereby injuring investors further.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena; (2) the Company has materially overstated its business connections and dealings; (3) the Company has materially overstated its ability to produce and commercialize its products; (4) the Company has materially overstated its products' novelty and capabilities; (5) the Company's products did not have the potential to be disruptive because, among other things, the Company priced its products too high; and (6) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
More on The PennZone
If you purchased or otherwise acquired Meta securities during the Class Period, you may move the Court no later than March 4, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their Meta investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On November 15, 2021, Meta released its third quarter financial report and subsequently revealed that the Company had received a subpoena from the Securities and Exchange Commission ("SEC") in September investigating Meta's merger with Torchlight Energy Resources, Inc.
On this news, Meta's stock fell 3.9% to close at $4.77 per share on November 16, 2021, thereby injuring investors.
More on The PennZone
- Steve Thompson Launches StickyHealth to Tackle the Retention Gap in the Growing GLP 1 Market
- Qscription Technologies Appoints Dr. Kimberly Beavers as Founding Clinical Advisor
- When Hope Feels Gone, Death2life Is Still Here!
- Sebastian Stroeller Publishes "The MAP Language Canon" — The Complete Practitioner's Guide to Structural Conversation
- OneVizion Appoints Zebra Technologies CIO Matt Ausman to Board of Directors
Then, On December 14, 2021, Kerrisdale Capital published a report alleging numerous issues including: "disappearing segments, misleading product claims, fake medical devices, research funding for subsidiaries that don't exist, and circumstances so questionable around a penny stock reverse merger that it's now the subject of an SEC Enforcement subpoena."
On this news, Meta's stock fell $0.18 per share, or 5.83%, to close at $2.91 per share on December 14, 2021, thereby injuring investors further.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena; (2) the Company has materially overstated its business connections and dealings; (3) the Company has materially overstated its ability to produce and commercialize its products; (4) the Company has materially overstated its products' novelty and capabilities; (5) the Company's products did not have the potential to be disruptive because, among other things, the Company priced its products too high; and (6) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
More on The PennZone
- GLADYS Magazine Celebrates their 18 Year Anniversary!
- New Townhome Building Released at Heritage at South Brunswick, Offering Private Perimeter Setting and Water Views
- Comics Veteran on Return of Teenage Mutant Ninja Turtles Characters, 3-D Projects, Collaboration with Original 'Star Wars' Toy Engineer
- Flexible Plan Investments Announces Retirement of Executive Vice President Renée Toth
- Sensory Education launches new neuro-affirming psychoeducation book, Sensory Diversity
If you purchased or otherwise acquired Meta securities during the Class Period, you may move the Court no later than March 4, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
0 Comments
Latest on The PennZone
- Dr. Pen Official Introduces Advanced Microneedling Technology for Precision Skincare at Home
- Bspin Launches Lightning-Fast Crypto Gaming Expansion With Sportsbook, Poker, VIP Rewards, and Bitcoin Lightning Network Integration
- From Temecula Wine Country to Canyon Lake: Parkway Construction Transforms Outdoor Spaces for Inland Homeowners
- Tim Tebow to Headline BSI CORE Annual Summit, Bringing Nearly 400 Business Leaders Together at Bethlehem's SteelStacks
- Pipeliners Tour Brings Appalachian Basin Rally to Western Pennsylvania
- Gigasoft 2026 JavaScript Chart Comparison: ProEssentials, Highcharts, SciChart, LightningChart, ECharts
- Experienced eXp Realty Agent Kerri Lawless Guides Buyers and Sellers Through Life's Next Chapters in St. Tammany Parish
- Supreme Garage Door Repair Redirects Marketing Dollars Into North Texas Communities
- RAS AP Consulting Spotlights Managed AP Governance™ at Esker All Access
- ANSI BSR Upholds Appeal of AFDE Member Andrew Sulner, MSFS, JD, finding the AAFS Academy Standards Board (ASB) Violated ANSI Essential Requirements
- Prolific Press Publishes 100 Word Fiction Issue #1, the Journal's Debut Anthology
- 100 Word Fiction Releases Issue #2: Forty Stories, One Hundred Words Each
- Kentucky's Plane Crash Data Lands Far from the State's Busiest Airports
- StockResearch AI Initiates Coverage on Apple (AAPL) With New Report Examining Valuation, AI Strategy and Future Growth
- Netberg Announces the Aurora X2 Switch Series, Built on Xsight Labs' Programmable X2 Silicon
- Imagen Golf Named Exclusive Golf Instruction Partner at Wood Lane Golf and Social
- Pete Verbica: America Needs Statesmanship and Common Sense — Not a Cult of Personality
- Heidi G. Villari of The Villari Firm, PLLC Recognized in The Best Lawyers in America 2027 for Construction Law and Personal Injury Litigation
- When the Coroner's Report Isn't Enough: Colorado Families Turn to Private Autopsy for Closure
- Nearly One-Third of CRE Asset Managers Make Major Capital Decisions on Gut Instinct, New Survey Finds