Investors Alert: Class Action Lawsuit Filed Against TMC the Metals Company
The Schall Law Firm, recognized for its work in shareholder rights, has initiated 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, alongside Rule 10b-5 set by the U.S. Securities and Exchange Commission.
Eligibility to Join the Class Action
Investors who purchased TMC’s securities during the period from May 12, 2023, to March 25, 2024, known as the “Class Period,” are urged to reach out to the Schall Law Firm by January 7, 2025.
If you have lost money as a shareholder, you can click here to participate in the lawsuit.
For those interested in discussing their legal rights without cost, contact Brian Schall at the Schall Law Firm. The office is located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, and can be reached at 310-301-3335. Further inquiries can be made via the firm’s website at www.schallfirm.com, or through email at bschall@schallfirm.com.
Important Note on Class Certification
Currently, the class has not been certified, meaning that until this step is completed, potential claimants do not have legal representation. Shareholders may choose to take no action and remain absent class members.
Allegations of Deceptive Practices
The Complaint asserts that TMC misled investors through false statements and a lack of adequate internal controls around financial reporting. Specifically, TMC is accused of categorizing future revenue sales incorrectly as deferred income instead of debt. As a result, the Company may need to revise previously issued financial statements. These misleading public disclosures persisted throughout the class period. When the actual situation came to light, investors faced significant financial losses.
Join the Class Action to Reclaim Your Losses
Investors are encouraged to join the lawsuit in order to seek recovery for their losses.
The Schall Law Firm operates globally, specializing in securities class action lawsuits and the rights of shareholders.
This announcement may qualify as Attorney Advertising in certain areas according to applicable laws and ethical rules.
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