TMC the Metals Company Faces Class Action Lawsuit Over Fraud Allegations

LOS ANGELES, Nov. 29, 2024 /PRNewswire/ — The Schall Law Firm, a national law firm specializing in shareholder rights, is notifying investors about a class action lawsuit against TMC the Metals Company Inc. (“TMC” or “the Company”) TMC. The lawsuit alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

Attention Investors: Important Dates Ahead

Investors who acquired the Company’s securities between May 12, 2023, and March 25, 2024 (the “Class Period”), are advised to contact the firm before January 7, 2025.

Understanding Your Rights

If you are a shareholder who experienced a loss, click here to join the case.

You can also reach out to Brian Schall of The Schall Law Firm at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, by calling 310-301-3335. For further communication, you can visit the firm’s website at www.schallfirm.com, or email at [email protected].

It’s important to note that the class has not yet been certified. This means that until certification occurs, you are not officially represented by a lawyer. If no action is taken, you may remain an absent class member.

The Allegations: What You Should Know

The lawsuit claims that TMC made false and misleading statements regarding its financial practices. Specifically, the Company reportedly lacked adequate internal controls over financial reporting and misclassified future revenue sales as deferred income rather than debt. Consequently, TMC is expected to restate its previous financial statements. As a result of these revelations, the Company’s public statements were found to be misleading, leading to significant losses for investors when the truth emerged.

Your Opportunity to Seek Justice

Joining this class action lawsuit is a way to potentially recover your losses.

The Schall Law Firm advocates for investors globally and is dedicated to securities class action lawsuits and shareholder rights litigation.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

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SOURCE The Schall Law Firm