NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of TMC the metals company Inc. ("TMC" or the "Company") (NASDAQ: TMC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether TMC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 6, 2021, before markets opened, market researcher Bonitas Research released a report alleging multiple issues plaguing TMC. The report alleged: (1) overpayment on licenses to potential undisclosed insiders; (2) artificially inflated exploration expenses; (3) potentially unusable license for which TMC paid $43 million in cash and stock; and (4) a history of affiliating with bad actors. On this news, TMC's stock price dropped 4% before markets opened, opening at $4.28 on October 6, 2021 and trading as low as $3.98.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP