INVESTIGATION ALERT: The Schall Law Firm Announces It Is Investigating Claims Against Stable Road Acquisition Corp. and Encourages Investors With Losses to Contact the Firm
LOS ANGELES--(BUSINESS WIRE)--Jul 14, 2021--
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Stable Road Acquisition Corp. (“Stable Road” or “the Company”) (NASDAQ: SRAC ) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The SEC announced a settlement with Stable Road, its CEO, and its merger target, Momentus Inc., on July 13, 2021. The settlement includes penalties of more than $8 million. It follows allegations that Momentus and its CEO “repeatedly told investors that it had ‘successfully tested’ its propulsion technology in space when, in fact, the company’s only in-space test had failed to achieve its primary mission objectives or demonstrate the technology’s commercial viability.” Based on this news, shares of Stable Road dropped more than 7% in intraday trading on July 14, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210714005826/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: The Schall Law Firm
Copyright Business Wire 2021.
PUB: 07/14/2021 02:55 PM/DISC: 07/14/2021 02:56 PM