New York, New York – (Newsfile Corp. – November 10, 2021) – Klein law firm announces class action lawsuit has been filed on behalf of shareholders of TMC the metal company Inc. f / k / a Sustainable Opportunities Acquisition Corp. (NASDAQ: TMC) alleging that the Company violated federal securities laws.
Class period: March 4, 2021 and October 5, 2021
Lead Applicant Deadline: December 27, 2021
No obligation or cost to you.
Learn more about your recoverable losses in TMC:
TMC the metals company Inc. f / k / a Sustainable Opportunities Acquisition Corp. NEWS – TMC NEWS
CLASS ACTION CASE DETAILS: The complaint filed alleges that TMC, the metallurgical company Inc. f / k / a Sustainable Opportunities Acquisition Corp. made materially false and / or misleading statements and / or did not disclose that: (1) the Company had significantly overpaid for the Tongo Offshore Mining Acquisition Limited to Undisclosed Insiders; (2) the Company had artificially inflated its exploration expenses of Nauru Ocean Resources Inc. (“NORI”) to give investors a false scale of its operations; (3) The company’s alleged 100% stake in NORI was questionable given that previous information had been provided to the International Seabed Authority that NORI was 100% owned by two Nauruan foundations and that all future income of NORI would be used in Nauru; (4) Defendants significantly downplayed the environmental risks of polymetallic nodules from deep sea mining and failed to properly warn investors of the regulatory risks faced by the Company’s environmentally risky operating plans ; (5) the Company’s PIPE financing was not fully committed and, therefore, the Company would not have the necessary liquidity for large-scale commercial production; (6) due to the above, the valuation of the Company was significantly lower than that disclosed by the Defendants to the investors; and (7) accordingly, the defendants’ public statements were materially false and / or misleading at all material times.
WHAT THIS MEANS FOR YOU AS A SHAREHOLDER: If you have suffered a loss in TMC, you have up to December 27, 2021 apply to the court for principal applicant status. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased TMC securities during the relevant period, you may be entitled to compensation without payment of out-of-pocket expenses.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For more information on the TMC trial, please contact J. Klein, Esq. by phone at 212-616-4899 or click on this link.
ABOUT THE KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud nationwide. Klein Law Firm is a litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced lawyers have achieved superior results for our clients with a personalized approach. Lawyer advertising. Past results do not guarantee similar results.
J. Klein, Esq.
Empire State Building
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New York, New York 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102834