Did You Acquire Momentus, Inc. (MNTS) Before October 7, 2020? Should Stable Road / Momentus Management be Held Accountable for Investors Losses? Contact Johnson Fistel
SAN DIEGO, December 15, 2021, /Globe Newswire
Johnson Fistel, LLP is investigating potential claims on behalf of Stable Road Acquisition Corp. – now trading as Momentus Inc. (NASDAQ: MNTS) against certain of its officers and directors.
Recently, a class action complaint was filed against Stable Road / Momentus. The class action lawsuit alleges that, throughout the Class Period, 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: (i) 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; (ii) 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; (iii) 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 (iv) 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.
If you are a current, long-term shareholder of Stable Road / Momentus holding shares before October 7, 2020, you may have standing to hold Stable Road / Momentus harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
Additionally, if you have owned shares since before October 7, 2020, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.