Trending...
- New Book, The KI of Marketing, Helps Small Businesses Grow Without Trying to Outspend Bigger Competitors
- LCC Asia Pacific Sponsors CubeSatPlus 2026 at UNSW Sydney
- Kellyn Endorses National Push to Expand Food is Medicine
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
- 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
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
- 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
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
- Master Of Science, Juggernaut Of The Screen: Landon Brittain Emerges As Hollywood's Most Unlikely Leading Man
- Black Dog Venture Partners and VC Fast Pitch to Host "San Francisco Investors and Innovators" Networking Event
- Four-Time Olympian Joetta Clark Diggs to Compete at World Masters Athletics Championships in Daegu
- New Book, The KI of Marketing, Helps Small Businesses Grow Without Trying to Outspend Bigger Competitors
- The Alistair Apartments Reaches 95% Occupancy in Downtown Lancaster, PA
- Food Journal Magazine Focuses Its Los Angeles Dining Coverage Across Three Editorial Verticals
- Where Do Missouri Plane Crashes Really Happen? Not Where You'd Think
- LCC Asia Pacific Sponsors CubeSatPlus 2026 at UNSW Sydney
- Kellyn Endorses National Push to Expand Food is Medicine
- LATO AI Automates Customer Communication to Help CSide Sports Academy and BAT 24 Nation Grow
- Real Estate Syndication Attorney Tilden Moschetti Releases The Real Estate Private Equity Blueprint
- 5X Gross Margin Improvement to Beat EPS Consensus; $54.6 Million 10-Year Contract Award Puts Cybersecurity Leader on Path to a $30 Million Run Rate
- Tina Hasselbusch, Turnstone Creative Co-founder and Chief Executive Officer, Named to LVB 300
- Pittsburgh Family Law Attorneys at Pollock Begg Earn Top Honors in 2027 Best Lawyers Guide
- Independent Colbert Packaging Thrives Amid Industrywide Consolidation
- Free Commercial Glass Estimating and Code Compliance Tools Launched by Landmark Construction - The Leading Glass Company in Los Angeles
- Tallahassee Million-Dollar Home Sales Rise in 2026 as Median Selling Time More Than Doubles
- Slotozilla Reports Strong Growth in Q2 2026
- Eric Snyder, President and Chief Executive Officer of Keystone Consulting Engineers Named to LVB 300
- Philadelphia's Girls Anthem to Host The Locker Room Experience Pop-Up for Young Women