Hub Cyber Security Faces Shareholder Class Action Lawsuit: Johnson Fistel Encourages Investors to Seek Compensation for Alleged Wrongdoings (HUBC)
Johnson Fistel, LLP, a shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Hub Cyber Security Ltd. (“HUB” or the “Company”) (NASDAQ: HUBC) investors who acquired HUB stock in exchange for shares of Hub Cyber Security (Israel) Ltd. (“Legacy HUB”) in connection with the Legacy HUB’s merger (the “Merger”) with Mount Rainier Acquisition Corp. (“Mount Rainier”). If you are a shareholder who incurred losses during this period, you have until September 4, 2023, to move the court to become a lead plaintiff in this action.
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The Complaint alleges that the Prospectus and other solicitations relating to the Merger concealed and failed to disclose material fact. Specifically, the complaint alleges that by means of the defective Prospectus, Defendant promoted, solicited, and encouraged Plaintiff and the Class to vote in favor of the Merger and to exchange shares of Legacy HUB for shares of the Company, and thereby offered or sold the Company’s Common Stock issue to the Class in connection with the Merger.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.
Johnson Fistel, LLP
Jim Baker, 619-814-4471