Company Name TMC the metals company Inc.
Stock Symbol TMC
Class Period March 4, 2021 to October 5, 2021
Motion Deadline December 27, 2021

 

The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of TMC the metals company Inc. (NASDAQ: TMC). The case is currently in the lead plaintiff stage. Investors who purchased TMC securities between March 4, 2021 and October 5, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email investors@tenlaw.com or call 617-531-3917.

The case alleges that TMC and its senior executives made misleading statements to investors and failed to disclose that: (i) TMC had significantly overpaid for the TOML acquisition to undisclosed insiders; (ii) TMC had artificially inflated its NORI exploration expenditures to give investors a false scale of its operations; (iii) TMC’s purported 100% interest in NORI was questionable given prior disclosures to the ISA that NORI was wholly owned by two Nauruan foundations and that all future income from NORI would be used in Nauru; (iv) TMC had significantly downplayed the environmental risks of deep-sea mining polymetallic nodules and failed to adequately warn investors of the regulatory risks faced by the Company’s environmentally risky exploitation plans; (v) TMC’s PIPE financing was not fully committed and, therefore, TMC would not have the cash necessary for large sale commercial production; and (vi) as a result of the foregoing, TMC’s valuation was significantly less than the Company disclosed to investors.

Interested TMC investors have until December 27, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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