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Momentus, SPAC left on the hook for investor suit

High Yields Team by High Yields Team
July 15, 2022
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A California federal judge on Wednesday kept the majority of claims that space industry startup Momentus and blank check company Stable Road Acquisition Corp. inflated stock prices with misstatements about projected revenue and the successful testing of its space technology, dismissing a handful of claims against some company officers. In a 17-page ruling, U. S. District Judge John F. Walter said the allegations, at least against some defendants, are sufficient to continue with the lawsuit. “Defendants knew that their representations with respect to Momentus’ prospective revenues were misleading due to the failure to disclose all material information regarding Momentus’ inability to obtain regulatory…

To Read The Rest Of This Article By Elaine Briseno on Law360

Click Here

Published: July 14, 2022

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The post Momentus, SPAC left on the hook for investor suit appeared first on L.A. Cannabis News.

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