NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Stable Road Acquisition Corp. (“Stable Road” or the “Company”) (NASDAQ: SRAC) on behalf of Stable Road stockholders. Our investigation concerns whether Stable Road has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
On July 13, 2021, after market hours, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with Stable Road, a special purpose acquisition company, its sponsor and CEO, and its merger target Momentus Inc. The settlement penalties total more than $8 million. The settlement follows allegations that Momentus and its CEO, Mikhail Kokorich, “repeatedly told investors that it had ‘successfully tested’ its propulsion technology in space when, in fact, the company’s only in-space test had failed to achieve its primary mission objectives or demonstrate the technology’s commercial viability.”
On this news, Stable Road’s stock price fell $1.20, or over 10%, to close at $10.68 per share on July 14, 2021, thereby injuring investors.
If you purchased or otherwise acquired Stable Road shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.