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Momentus Inc. f.k.a. Stable Road Acquisition Corp. (NASDAQ: MNTS, formerly NASDAQ: SRAC) Long Term Investor Notice: Lawsuit filed to access Merger records

08-19-2022 04:11 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed by an investor in Momentus Inc. f.k.a. Stable Road Acquisition Corp. (NASDAQ: MNTS, formerly NASDAQ: SRAC).

A lawsuit was filed by an investor in Momentus Inc. f.k.a. Stable Road Acquisition Corp. (NASDAQ: MNTS, formerly NASDAQ: SRAC).

An investor in shares of Momentus Inc. f.k.a. Stable Road Acquisition Corp. (NASDAQ: MNTS, formerly NASDAQ: SRAC) filed a lawsuit in effort ot access the books and records concerning the merger from Momentus Inc. to Stable Road Acquisition Corp.

Investors who are current long term investors in Stable Road Acquisition Corp. (NASDAQ: SRAC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff filed a lawsuit in order to determine whether certain directors of the blank check company made incomplete and misleading disclosures. The lawsuit comes after in July of last year another investor filed a lawsuit against Momentus Inc. f.k.a. Stable Road Acquisition Corp. over alleged securities laws violations. The plaintiff alleged that the defendants misrepresented and failed to disclose adverse facts about Momentus's business, operations, and prospects and Stable Road's due diligence activities in connection with the merger, which were known to defendants or recklessly disregarded by them, as follows: (a) 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 CEO, defendant Mikhail Kokorich, a national security threat, which jeopardized Kokorich's 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.

Those who purchased shares of Stable Road Acquisition Corp. (NASDAQ: SRAC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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