Investors Urged to Lead Class Action Against TMC the Metals Company

LOS ANGELES, Nov. 27, 2024 /PRNewswire/ — The Law Offices of Frank R. Cruz has announced that investors who have faced significant losses may have an opportunity to lead a securities fraud class action lawsuit against TMC the metals company Inc. (“TMC” or the “Company”) TMC.

Class Period and Deadline Information

Class Period: May 12, 2023 – March 25, 2024
Lead Plaintiff Deadline: January 7, 2025

Shareholders who experienced losses during this period are encouraged to participate.

Allegations Against TMC

The filed complaint indicates that during the Class Period, Defendants allegedly neglected to inform investors that: (1) TMC had inadequate internal controls over financial reporting; (2) this led the Company to incorrectly classify future revenue from the LCR Partnership as deferred income instead of debt; (3) this misclassification would force TMC to restate prior financial statements once revealed; and (4) as a consequence, the positive claims made by Defendants about the Company’s business and future prospects were misleading and lacked a solid basis.

Getting Involved and Seeking Information

Individuals do not need to take action immediately to be part of the class action. They may choose to secure their own legal representation or remain an absent class member. For more information or if you have questions about this announcement, please contact Frank R. Cruz at The Law Offices of Frank R. Cruz, located at 2121 Avenue of the Stars, Suite 800, Century City, California 90067. You can reach him at 310-914-5007, via email at info@frankcruzlaw.com, or visit www.frankcruzlaw.com. If emailing, be sure to include your mailing address, phone number, and number of shares purchased.

This announcement may count as Attorney Advertising in some areas under applicable law and ethical standards.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles