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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of TMC the metals company Inc. f/k/a Sustainable Opportunities Acquisition Corp. of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 27, 2021 - (TMC)
November 29, 2021 7:25 PM EST | Source: Gross Law Firm
New York, New York--(Newsfile Corp. - November 29, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of TMC the metals company Inc. f/k/a Sustainable Opportunities Acquisition Corp. (NASDAQ: TMC).
Shareholders who purchased shares of TMC during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD : March 4, 2021 to October 5, 2021
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company had significantly overpaid for the Tongo Offshore Mining Limited acquisition to undisclosed insiders; (2) the Company had artificially inflated its Nauru Ocean Resources Inc. ("NORI") exploration expenditures to give investors a false scale of its operations; (3) the Company's purported 100% interest in NORI was questionable given prior disclosures to the International Seabed Authority that NORI was wholly owned by two Nauruan foundations and that all future income from NORI would be used in Nauru; (4) Defendants had significantly downplayed the environmental risks of deep-sea mining polymetallic nodules and failed to adequately warn investors of the regulatory risks faced by the Company's environmentally risky exploitation plans; (5) the Company's PIPE financing was not fully committed and, therefore, the Company would not have the cash necessary for large sale commercial production; (6) as a result of the foregoing, the Company's valuation was significantly less than Defendants disclosed to investors; and (7) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
DEADLINE: December 27, 2021 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/tmc-the-metals-company-inc-f-k-a-sustainable-opportunities-acquisition-corp-loss-submission-form/?id=21704&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of TMC during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 27, 2021. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105760