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SPAC, Merger Target And CEOs Accused Of Faulty Disclosure


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SPAC, Merger Target And CEOs Accused Of Faulty Disclosure
Law360 (July 13, 2021, 10:41 PM EDT) The U.S. Securities and Exchange Commission announced Tuesday it has reached settlements with special purpose acquisition company Stable Road Acquisition Co., its sponsor and CEO, and the SPAC s proposed merger target Momentus Inc. for allegedly falsely telling investors that its propulsion technology had been successfully tested in space.
The SEC said that the settlement penalties total more than $8 million, and that litigation is proceeding in D.C. federal court against Momentus founder and former CEO Mikhail Kokorich.
Kokorich and Momentus, an early-stage space transportation company, repeatedly told investors that it had successfully tested its propulsion technology in space when, in fact,. ....

Mikhail Kokorich , Exchange Commission , Acquisition Co , Momentus Inc , பரிமாற்றம் தரகு , கையகப்படுத்தல் இணை ,