An investigation on behalf of current long term investors in TMC the metals company Inc. (NASDAQ:TMC) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA — (SBWIRE) — 03/07/2022 — Certain directors of TMC the metals company Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in TMC the metals company Inc. (NASDAQ: TMC) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm for investors in NASDAQ: TMC stocks follows a lawsuit filed against TMC the metals company Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: TMC stocks, concerns whether certain TMC the metals company Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose that the Company had significantly overpaid to acquire Tonga Offshore Mining Limited (“TOML”) to undisclosed insiders, that the Company had artificially inflated its Nauru Ocean Resources Inc. (“NORI”) exploration expenditures to give investors a false scale of its operations, that the Company’s purported 100% interest in NORI was questionable given prior disclosures to the International Seabed Authority (“ISA” or the “Authority”) that NORI was wholly owned by two Nauruan foundations and that all future income from NORI would be used in Nauru, that defendants 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, that the Company’s private investment in public equity (“PIPE”) financing was not fully committed and, therefore, the Company would not have the cash necessary for large sale commercial production, that as a result of the foregoing, the Company’s valuation was significantly less than defendants disclosed to investors, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of TMC the metals company Inc. (NASDAQ: TMC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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