NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Stable Road Acquisition Corp. (NASDAQ: SRAC) resulting from allegations that Stable Road may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Stable Road securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2122.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On July 13, 2021, after market hours, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with Stable Road, a special purpose acquisition company, its sponsor and CEO, and its merger target Momentus Inc. The settlement penalties total more than $8 million. The settlement follows allegations that Momentus and its CEO, Mikhail Kokorich, “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.”
On this news, Stable Road’s stock price opened on July 14, 2021 at $10.68 per share, down $1.20, or over 10%, from its closing price of $11.88 per share on July 13, 2021.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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