TMC the Metals Company Faces Legal Scrutiny Over Financial Reporting Issues

Glancy Prongay & Murray LLP (“GPM”), a prominent law firm focused on shareholder rights, has initiated an investigation for investors of TMC the metals company Inc. (“TMC” or the “Company”) TMC. The investigation pertains to potential violations of federal securities laws by the Company.

If you have experienced a loss with your TMC investments or are interested in pursuing claims to recover this loss, please visit www.glancylaw.com/cases/TMC-the-metals-company-Inc-1/ to submit your contact information. You can reach Charles H. Linehan at GPM by calling 310-201-9150, toll-free at 888-773-9224, or by emailing shareholders@glancylaw.com to understand your rights further.

On March 25, 2024, TMC revealed that its financial statements for the first three quarters of 2023 must no longer be trusted and will require restatement. This was due to an issue concerning its partnership with Low Carbon Royalties Inc. (“LCR”), focusing on how to classify an offsetting entry related to proceeds from LCR as either debt or deferred income. TMC specified that the transaction with LCR would now be treated as an equity investment, meaning future revenue sales would be reclassified as Royalty liability according to accounting standards.

Following this announcement, TMC’s stock price experienced a significant drop of $0.205, or 13.2%, closing at $1.345 per share on March 26, 2024, resulting in financial harm to its investors.

For ongoing updates, follow us on LinkedIn, Twitter, or Facebook.

Whistleblower Notice: Individuals having non-public information related to TMC may explore options to assist with the investigation or take part in the SEC Whistleblower Program. This program allows whistleblowers to potentially receive rewards of up to 30 percent of any successful recovery made by the SEC. For further details, contact Charles H. Linehan at 310-201-9150 or 888-773-9224, or email shareholders@glancylaw.com.

About GPM

Glancy Prongay & Murray LLP is a respected law firm representing investors and consumers involved in securities litigation and complex class action cases. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, the firm was recognized as a top five law firm in securing securities class action settlements and ranked among the top six firms for total settlement amounts. With offices nationwide, GPM’s nearly 40 attorneys have secured historic rulings and recovered billions for clients in various forms of corporate misconduct, including financial restatements and insider trading across numerous industries.

The firm’s achievements have been highlighted in reputable publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, and others.

This press release could be deemed Attorney Advertising in certain jurisdictions, in line with applicable legal and ethical guidelines.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241115233992/en/