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SRAC; SRACW; SRACU Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of September 13, 2021 Deadline in Securities Fraud Class Action Lawsuit
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Momentus Inc : Momentus Announces 2022 Launch Services Agreement With Danish Students CubeSat Program
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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on Investment in Stable Road Acquisition Corp of Class Action Lawsuit and Upcoming Deadline – SRAC; SRACW; SRACU
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NEW YORK, Aug. 4, 2021 /PRNewswire/ Pomerantz LLP is investigating claims on behalf of investors of
Stable Road Acquisition Corp. ( Stable Road or the Company ) (NASDAQ: SRAC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Stable Road and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 13, 2021, the U.S. Securities and Exchange Commission ( SEC ) announced that it had brought charges against the special-purpose acquisition company ( SPAC ) Stable Road in connection with its acquisition of Momentus Inc. ( Momentus ). Among other things, the SEC has alleged that Momentus lied about its technology, including falsely claiming that its propulsion system had been successfully tested in space, ad that Stable Road repeated Momentus s misleading statements in public
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Stable Road is a special purpose acquisition company. Momentus Inc. ( Momentus ) was an acquisition target of Stable Road during the Class Period. Momentus is a private commercial space company headquartered in Santa Clara, California.
The complaint alleges that the defendants misrepresented and failed to disclose that: (1) Momentus 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus 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; (2) the U.S. government had conveyed that it considered Mikhail Kokorich, the founder and Chief Executive Officer of Momentus, a national security threat, which jeopardized Mr. Kokorich s continued leadership of Momentus and Momentus launch schedule and business prospects; (3) as a result of the above, the revenue projections and business and operational plans provided to inve