Stable Road Investor Alert: Class Action Lawsuit Filed

·3 min read

Boston, Massachusetts--(Newsfile Corp. - August 4, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Stable Road Acquisition Corp. (NASDAQ: SRAC) (NASDAQ: SRACW) (NASDAQ: SRACU). The case is currently in the lead plaintiff stage. Investors who purchased Stable Road stock or other securities between October 7, 2020 and July 13, 2021 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/StableRoad for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.

FOR MORE INFORMATION: www.tenlaw.com/cases/StableRoad

The case alleges that Stable Road and its senior executives made misleading statements to investors and failed to disclose that: (i) Momentus's 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus's own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (ii) the U.S. government had conveyed that it considered Momentus's CEO, defendant Mikhail Kokorich, a national security threat, which jeopardized Kokorich's continued leadership of Momentus and Momentus's launch schedule and business prospects; (iii) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (iv) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.

Interested Stable Road investors have until September 13, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/StableRoad

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/StableRoad

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92081

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