Deadline on April 18, 2023 coming up in Lawsuit for Investors in Terran Orbital Corporation (NYSE: LLAP)

The Shareholders Foundation announced that a deadline is coming up on April 18, 2023 in the lawsuit filed for certain investors of Terran Orbital Corporation (NYSE: LLAP).

Investors who purchased shares of Terran Orbital Corporation (NYSE: LLAP) have certain options and there are strict and short deadlines running. Deadline: April 18, 2023. NYSE: LLAP stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint, the plaintiff claims that all stockholders of Terran Oribital, Inc. (NYSE: LLAP) who purchased their stock prior to March 28, 2022, through their employment with Legacy TOC, were induced to vote in favor of the merger via a materially false and misleading Proxy Prospectus, and were later restricted from, or otherwise unable to sell or dispose of their post-merger Terran Orbital ("New TOC") common stock because of the misrepresentations of defendants.
The plaintiff alleges that the New TOC stock was itself issued in violation of the Securities Act of 1933 because it was issued from a materially false and misleading S-4 Registration Statement and Prospectus ("S-4"). The plaintiff further more claims that the defendants' failure to timely provide Plaintiff and class members with New TOC stock which was freely tradeable on the "Effective Date" as defined in the Merger Agreement also breached a contract formed between non-insider Legacy TOC common stockholders and Legacy TOC and New TOC.

Those who purchased shares of Terran Orbital Corporation (NYSE: LLAP) 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.

This release was published on openPR.