Shapiro Haber & Urmy LLP Has Concluded That Legacy Matterport Shareholders May Have Valuable Claims Against Matterport, Inc.

Rhea-AI Summary

Shapiro Haber & Urmy LLP has announced that Legacy Matterport shareholders may have valuable claims against Matterport (NASDAQ: MTTR). This stems from the July 2021 business combination transaction where Legacy Matterport became public via a SPAC merger. Shareholders who received new Matterport shares during this transaction might be entitled to significant money damages, regardless of whether they still own the shares or have sold them.

The law firm is offering to provide additional information about legal rights in this matter. Interested parties can contact Ian McLoughlin at imcloughlin@shulaw.com or (617) 439-3939. Shapiro Haber & Urmy LLP specializes in representing shareholders and consumers in class actions against corporate defendants, as well as in derivative actions.

Positive

• None.

Negative

• Potential legal claims against Matterport by Legacy Matterport shareholders
• Possibility of significant money damages owed by Matterport to former shareholders
• Legal investigation into the 2021 SPAC business combination transaction

Insights

Legal Expert

This announcement from Shapiro Haber & Urmy LLP regarding potential claims against Matterport, Inc. (NASDAQ: MTTR) is a significant development for Legacy Matterport shareholders. The law firm's assertion of "valuable claims" and "significant money damages" suggests potential legal issues stemming from the 2021 SPAC merger.

While the specifics of the claims are not detailed, this could indicate concerns about the valuation, disclosures, or terms of the SPAC transaction. Such legal actions, if pursued, could have financial implications for Matterport and may impact investor confidence. However, it's important to note that at this stage, these are potential claims, not filed lawsuits or proven wrongdoing.

Shareholders should carefully consider their options and seek professional advice before taking any action. This situation underscores the importance of due diligence in SPAC transactions and highlights potential risks associated with such deals.

Financial Analyst

The announcement of potential legal claims against Matterport (NASDAQ: MTTR) could have significant financial implications for the company. While the exact monetary value of these claims is not specified, the term "significant money damages" suggests a potentially material impact on Matterport's financials.

Investors should be aware that such legal proceedings, if they materialize, could lead to:

• Increased legal expenses
• Potential settlements or judgments
• Negative impact on the company's cash reserves and balance sheet

Moreover, this situation may create uncertainty around Matterport's financial stability and growth prospects, potentially affecting its stock price and investor sentiment. It's important for current and potential investors to closely monitor any developments and assess how they might impact Matterport's financial health and market valuation.

BOSTON, Aug. 22, 2024 /PRNewswire/ -- This press release concerns Matterport (NASDAQ: MTTR) and valuable claims which some of its past and present shareholders may have against Matterport.

In July 2021, Matterport's predecessor, Legacy Matterport, became a public corporation via a business combination transaction with a SPAC. That business combination transaction entitled the shareholders of Legacy Matterport to receive public shares of the new publicly traded Matterport.

If you were a shareholder of the previously non-public Legacy Matterport who received shares of the new Matterport pursuant to the SPAC business combination in July 2021, you may have valuable claims against Matterport and may be entitled to significant money damages from Matterport in connection with the issuance to you of the new Matterport shares. You may have those claims whether you continue to own the new Matterport shares, or you have sold them.

If you wish to obtain additional information about your legal rights regarding this matter, please contact Ian McLoughlin at imcloughlin@shulaw.com or (617) 439-3939 or visit our website at http://www.shulaw.com/About-Us/Investigations/claims-of-legacy-shareholders-against-matterport-inc/. 

About Shapiro Haber & Urmy LLP

Shapiro Haber & Urmy represents shareholders and consumers in class actions against corporate defendants, as well as shareholders in derivative actions on behalf of companies against their companies' officers and directors. Shapiro Haber & Urmy is based in Boston but litigates cases throughout the United States.

Contact

Ian J. McLoughlin
Shapiro Haber & Urmy LLP
imcloughlin@shulaw.com
Tel: (617) 439-3939

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SOURCE Shapiro Haber & Urmy LLP

FAQ

What claims do Legacy Matterport shareholders potentially have against Matterport (MTTR)?

Legacy Matterport shareholders who received shares of the new publicly traded Matterport during the July 2021 SPAC business combination may have valuable claims against Matterport. These claims could potentially entitle them to significant money damages in connection with the issuance of new Matterport shares.

How can affected Matterport (MTTR) shareholders get more information about their legal rights?

Affected shareholders can contact Ian McLoughlin at Shapiro Haber & Urmy LLP via email at imcloughlin@shulaw.com or by phone at (617) 439-3939. They can also visit the firm's website for more information about the investigation into claims against Matterport.

Does selling Matterport (MTTR) shares affect a shareholder's ability to pursue these claims?

No, according to the press release, shareholders may have claims against Matterport whether they continue to own the new Matterport shares or have sold them.

When did the SPAC business combination involving Matterport (MTTR) take place?

The SPAC business combination transaction, which made Legacy Matterport a public , took place in July 2021.