NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces to investors that a shareholder filed a class action on behalf of purchasers of securities of TMC the metals company Inc. (NASDAQ: TMC) between May 12, 2023 and March 25, 2024, both dates inclusive (the “Class Period”). TMC is a deep-sea minerals exploration company.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that TMC (NASDAQ: TMC) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) TMC maintained deficient internal controls over financial reporting; (2) as a result, the Company inaccurately classified the sale of future revenue attributable to the LCR Partnership (a strategic partnership with Low Carbon Royalties Inc.) as deferred income rather than debt; (3) the foregoing misclassification, when it became known, would require TMC to restate one or more of its previously issued financial statements; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against TMC. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by January 7, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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