NEW YORK, NY / ACCESSWIRE / July 27, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential securities violations and breach of fiduciary duty claims against Stable Road Acquisition Corp. ('Stable Road') (NASDAQ:SRAC).
On July 13, 2021, the U.S. Securities and Exchange Commission ('SEC') announced an $8 million settlement with special purpose acquisition company ('SPAC') Stable Road in connection with its acquisition of Momentus Inc. ('Momentus'). Among other allegations, the SEC accused Momentus of lying about its technology, including falsely claiming that its propulsion system had been 'successfully tested' in space. Stable Road is accused of repeating these misleading statements in public filings while failing to conduct adequate due diligence of Momentus.
On this news, Stable Road's stock price fell 10.27% on July 14, 2021.
If you are a shareholder in SRAC and want to receive additional information and protect your investments free of charge, contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at [email protected].
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at www.labaton.com.
CONTACT:
David J. Schwartz
(800) 321-0476
[email protected]
SOURCE: Labaton Sucharow LLP