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New York, New York--(Newsfile Corp. - July 27, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Stable Road Acquisition Corp. (NASDAQ: SRAC) alleging that the Company violated federal securities laws.
Class Period: October 7, 2020 and July 13, 2021
Lead Plaintiff Deadline: September 13, 2021
No obligation or cost to you.
Learn more about your recoverable losses in SRAC:
Stable Road Acquisition Corp. NEWS - SRAC NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Stable Road Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Stable Road's acquistion target, Momentus's 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus's own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (b) the U.S. government had conveyed that it considered Momentus's Chief Executive Officer a national security threat, jeopardizing his continued leadership of Momentus and Momentus's launch schedule and business prospects; (c) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (d) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Stable Road you have until September 13, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Stable Road securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91398