Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
MMAT.US

Meta Materials (MMAT) Destroyed MCap Case

  • In December, Meta Materials hit news lines with a $6M dilutive offering, reverse split, and $3M settlement over a prior investor case.
  • Since June 2022, $MMAT lost over $350M of shareholder value.
  • Investors may suspect Meta ignoring their best interests, damaging $MMAT value.
On December 4, 2023, Meta Materials (MMAT) announced a $6 million direct offering to certain institutional investors in a stock plus warrants deal.

On this news, $MMAT fell 36% and lost over $22 million of its market capitalization, damaging shareholders.
  • On December 5, 2023, Meta said that the proposed reverse split would be necessary to keep the NASDAQ listing.
  • On December 8, 2023, in its Letter to Shareholders, Meta commented on multiple issues and confirmed that BoD voted for R/S.
On December 20, 2023, Meta Materials agreed to settle $3 million with shareholders to end claims over Torchlight Energy Resources' deal.
  • The TER settlement is entitled to affected investors who purchased $MMAT in the period from September 21, 2020, to June 4, 2022.
  • But since June 5, 2022, Meta Materials already lost over $350 million of its market capitalization, damaging shareholders.
Taking history, executive transition, and multiple market allegations, investors might have grounds to suspect that Meta Materials and its Executives do not act in the best interests of shareholders, damaging $MMAT value.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04 December 2023
Collecting participants…
Created by Stan Vick, Scout

Meta Materials Inc

Meta Materials Inc., a smart materials and photonics company, develops, manufactures, and sells various functional materials and nanocomposites. The company products include metaAIR, a laser glare ...

    Ticker
    MMAT.US
    ISIN
    US59134N1046
    CIK
    1431959
    Sector
    Technology
    Industry
    Electronic Components
    Country
    USA
    Address
    60 Highfield Park Drive, Dartmouth, NS, Canada, B3A 4R9