NEW YORK, July 28, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Stable Road Acquisition Corp. (“Stable Road” or the “Company”) (NASDAQ: SRAC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Stable Road and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 13, 2021, the U.S. Securities and Exchange Commission (“SEC”) announced that it had brought charges against the special-purpose acquisition company (“SPAC”) Stable Road in connection with its acquisition of Momentus Inc. (“Momentus”). Among other things, the SEC has alleged that Momentus lied about its technology, including falsely claiming that its propulsion system had been ‘successfully tested’ in space, and that Stable Road repeated Momentus’s misleading statements in public filings, while failing to conduct adequate due diligence of Momentus.
On this news, Stable Road’s stock price fell $1.22 per share, or 10.27%, to close at $10.66 per share on July 14, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP