NEW YORK, Jan. 23, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (“Meta” or the “Company”) ( MMAT; TRCH) ( MMTLP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Meta Materials and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 14, 2021, Kerrisdale Capital (“Kerrisdale”) published a report titled “Meta Materials, Inc. (MMAT, Financial): A ‘Photonics’ Company That’s an Optical Illusion.” The report alleged numerous issues including: “[d]isappearing 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.”
Following publication of the Kerrisdale report, Meta’s stock price fell $0.18 per share, or 5.83%, to close at $2.91 per share on December 14, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
