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…
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Published: July 14, 2022
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