NEW YORK– (BUSINESS WIRE) –#Securities–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed against TMC the Metallurgical Company (“TMC” or the “Company”) ( NASDAQ: TMC) in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired securities of TMC between March 3, 2021 and October 5, 2021, both dates inclusive (the “Class Period”). Investors have until December 27, 2021 to ask the court to be named lead plaintiffs in the lawsuit.

Click on here to participate in the action.

According to the lawsuit, the defendants throughout the litigation period made false and / or misleading statements and / or failed to disclose: (1) the Company had overpaid significantly to acquire Tonga Offshore Mining Limited (“TOML “) To undisclosed insiders; (2) the Company had artificially inflated its exploration expenses of Nauru Ocean Resources Inc. (“NORI”) to give investors a false scale of its operations; (3) the company’s alleged 100% stake in NORI was questionable given previous disclosures to the International Seabed Authority (“ISA” or “the Authority”) that NORI was wholly owned by two Nauruan foundations and that all future NORI revenues would be used in Nauru; (4) The defendants had significantly downplayed the environmental risks of polymetallic nodules from deep sea mining and failed to properly warn investors of the regulatory risks faced by the Company’s environmentally risky operating plans ; (5) the Company’s private investment in public equity financing (“PIPE”) was not fully committed and, therefore, the Company would not have the necessary liquidity for large-scale commercial production; (6) due to the above, the valuation of the Company was significantly lower than that of the defendants disclosed to the investors; and (7) accordingly, the defendants’ public statements were materially false and / or misleading at all material times.

In the wake of this news, TMC stock fell 4% to a low of $ 3.98 per share during pre-market hours on October 6, 2021.

If you have bought or acquired shares of TMC and suffered a loss, are a long-time shareholder, have information, want to know more about these claims or have questions regarding this announcement or your rights or interests in these questions, please contact Brandon Walker or Alexandra Raymond by email at [email protected], phone at (212) 355-4648, or by fill out this contact form. There is no cost or obligation for you.

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.

Contacts

Bragar Eagel & Squire, PC

Brandon Walker, Esq.

Alexandra B. Raymond, Esq.

(212) 355-4648

[email protected]
www.bespc.com