The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. “Meta has habitually made outlandish and misleading claims about the feasibility, development, and commercial potential of various technologies only to repeatedly move the goalposts or retrospectively alter its claims, often just quietly dropping entire projects they had previously touted as pivotal,” said Kerrisdale in its short report. Share your ideas and get valuable insights from the community of like minded traders and investors. 14, 2021 were eligible to participate in the class action. Track Torchlight Energy Resources (TRCH) Stock Price, Quote, latest community messages, chart, news and other stock related information. Shareholders who purchased MMAT stock between Sept. It alleged that Meta made false and/or misleading statements in its business combination with Torchlight Energy Resources and that it overstated the effectiveness of its products and its ability to efficiently commercialize its products, among other claims. The class action combined two separate class action cases and involved evidence from a Kerrisdale Capital short report. “If plaintiffs do not file such a motion or the court denies it, the plaintiffs will have 30 days to file a notice of appeal from the date the court enters a final judgment in favor of the defendants,” said Meta. This means that the plaintiff still has the option to file an amended complaint and/or appeal the decision while seeking leave from the court. Still, the court has not yet levied judgement in favor of Meta. MMAT Stock: Class Action Lawsuit Claims Dismissed in Court

“Our priority remains serving our shareholders and continuing our work in the field of advanced materials and nanotechnology towards developing solutions that make a difference in people’s lives.” “We appreciate the court’s thorough examination of the complaint and the Company’s motion,” said CEO George Palikaras. In the same quarter last year, TRCH 's earnings per share (EPS) was -0.07. TRCH ( TRCH) reported Q3 2023 earnings per share (EPS) of -0.02, beating estimates of -0.03 by 39.00. the value that each TRCH share actually gained. The value each TRCH share was expected to gain vs. As a result, the dismissal of the lawsuit casts away all of the claims mentioned in the lawsuit. Torchlight Energy Resources Stock Earnings. The court concluded that the lawsuit failed to evidence any false statements, material omissions, or a strong inference of fraudulent intent from the company or any other named defendants.

District Court for the Eastern District of New York had granted its motion to dismiss the class action lawsuit filed against it in January of 2022.

It’s a good day for Meta Materials (NASDAQ: MMAT), as the company announced over the weekend that the U.S.

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