INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Stable Road Acquisition Corp. (SRAC) on Behalf of Investors
BENSALEM, Pa.–(BUSINESS WIRE)–$SRAC #CLASSACTION–Law Offices of Howard G. Smith announces an investigation on behalf of Stable Road Acquisition Corp. (“Stable Road” or the “Company”) (NASDAQ: SRAC) investors concerning the Company’s possible violations of federal securities laws.
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, the Company’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 Stable Road securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
