Berman Tabacco Investigates Potential Securities Claims Against Stable Road Acquisition Corp. (SRAC, SRACU, SRACW) in Connection with Its Proposed Combination with Momentus, Inc.
Boston, Massachusetts--(Newsfile Corp. - July 14, 2021) - Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations against Stable Road Acquisition Corp. ("Stable Road" or the "Company") (NASDAQ: SRAC, SRACU, SRACW) in connection with its proposed combination with Momentus, Inc. ("Momentus")
On July 13, 2021, the Securities and Exchange Commission ("SEC") "announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC's proposed merger target Momentus Inc., and Momentus's founder and former CEO Mikhail Kokorich for misleading claims about Momentus's technology and about national security risks associated with Kokorich." According to the SEC, "litigation is proceeding against Kokorich", and "[a]ll other parties are settling with the SEC."
According to the SEC's settled order, "Kokorich and Momentus, an early-stage space transportation company, repeatedly told investors that it had "successfully tested" its propulsion technology in space when, in fact, the company's only in-space test had failed to achieve its primary mission objectives or demonstrate the technology's commercial viability. The order finds that Momentus and Kokorich also misrepresented the extent to which national security concerns involving Kokorich undermined Momentus's ability to secure required governmental licenses essential to its operations."
In response to this news, shares of Stable Road were down 8% in early trading on July 14, 2021.
If you purchased Stable Road securities between October 7, 2020 and July 13, 2021, and would like more information regarding this investigation, or if you wish simply to share information about the investigation, please visit: https://www.bermantabacco.com/case/stable-road-acquisition-corp/.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.
This notice may constitute attorney advertising.
Jay Eng, Esq.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90240