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.

Case Status

Attorney Investigation

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

Meta Materials (MMAT) Destroyed MCap Case

Collecting participants…