Trending...
- Kilmaine Saints to Anchor St. Patrick's Day Weekend with Live Album Recording at XL Live
- Ice Melts. Infrastructure Fails. What Happens to Clean Water?
- Revolutionary Data Solution Transforms Health Insurance Underwriting Accuracy
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
- CCHR Says Psychiatry's Admission on Antidepressant Withdrawal Comes Far Too Late
- 505 Plumbing, Heating & Cooling Launches in Albuquerque, Bringing a Customer-First Approach to Home Services
- As AI.com Sells For Record $70 Million, Attention Now Turns To ArtificialIntelligence.com
- AOW Event Sponsored By The Stanglwirt Resort a renowned five-star Austrian wellness destination
- Average US gambler spends $210 per month in 2026
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
- 10X Recruitment Launches Operator-Led Executive Search for Behavioral Health and Legal Leaders
- Integris Composites developing armor for military in Arctic Circle
- Caraline Skincare's Gentle Glow Cleansing Oil Named Finalist for Best Face Cleanser at the 2026 CertClean Clean Beauty Awards
- Workplace safety ideas from the front lines to highlight Applied Ergonomics Conference in Arlington, Texas
- ThoroughCare Appoints New Chief Executive Officer & Chief Growth Officer to Accelerate Expansion
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
Filed Under: Business
0 Comments
Latest on The PennZone
- ZRCalc™ Cinema Card Calculator Now Available for Nikon ZR Shooters
- Revolutionary Data Solution Transforms Health Insurance Underwriting Accuracy
- $36 Million LOI to Acquire High Value Assets from Vivakor Inc in Oklahoma's STACK Play — Building Cash Flow and Scalable Power Infrastructure; $OLOX
- Kobie Wins for AI Innovations in the 2026 Stevie® Awards for Sales & Customer Service
- Author Jeff Bogle to Host Street Cats Mediterranean Cruise Featuring Cat Behaviorist Molly DeVoss
- Berman | Sobin | Gross LLP Celebrates 35 Years of Advocating for Maryland's Injured Workers and Families
- Art of Whiskey Hosts 3rd Annual San Francisco Tasting Experience During Super Bowl Week
- Kilmaine Saints to Anchor St. Patrick's Day Weekend with Live Album Recording at XL Live
- PADT Earns Prestigious 2025 Americas Customer Loyalty Award from Ansys, Part of Synopsys
- Florida Keys Visitors Can Save 15 Percent With KeysCaribbean's Advanced Booking Discount
- Sleep Basil Unveils Revamped Natural Latex Mattress Collection Page for Cooler, Cleaner, Better-Aligned Sleep
- Conexwest Delivers Custom Shipping Container MRI Lab, Saving California Hospital an Estimated $9 Million in Renovation Costs
- Smallville, Sailor Moon, Reno 911! Stars Added To FAN EXPO Philadelphia Lineup, May 29-31
- FDA Meeting Indicates a pivotal development that could redefine the treatment landscape for suicidal depression via NRx Pharmaceuticals: $NRXP
- $2.7 Million 2025 Revenue; All Time Record Sales Growth; 6 Profitable Quarters for Homebuilding Industry: Innovative Designs (Stock Symbol: IVDN)
- Beyond Spots & Dots Commits $50,000 to Penn State University Communications Students
- CCHR: Decades of Warnings, Persistent Inaction; Studies Raise New Alarms on Psychiatric Drug Safety
- PRÝNCESS Builds Anticipation With "My Nerves" — A Girls-Girl Anthem
- Arbutus Medical Raises C$9.3M to Accelerate Growth of Surgical Workflow Solutions Outside the OR
- From Sleepless Nights to Sold-Out Drops: Catch Phrase Poet's First Year Redefining Motivational Urban Apparel