Cohen Milstein Urges Shareholders Who Lost Significant Money In TMC The Metals Company Inc. to Contact Firm

Rhea-AI Summary

A class action securities lawsuit has been filed against TMC The Metals Company (Nasdaq: TMC) in the U.S. District Court for the Central District of California. The lawsuit alleges that TMC and certain officers made false and misleading statements to investors in financial statements and regarding internal controls between May 12, 2023 and March 25, 2024. Shareholders who suffered significant losses during this period have until January 7, 2025 to request appointment as lead plaintiff. Cohen Milstein Sellers & Toll PLLC, a prominent securities litigation firm, is handling the case.

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• Company faces class action lawsuit for alleged false and misleading statements
• Allegations of violations of Securities Exchange Act Sections 10(b) and 20(a)
• Potential financial impact from securities fraud litigation
• Questions raised about internal controls over financial reporting

Insights

Legal Expert

This class action lawsuit against TMC represents a significant legal challenge that could impact shareholder value. The allegations of false and misleading statements regarding financial reporting and internal controls are particularly serious, covering a substantial period from May 2023 to March 2024. The involvement of Cohen Milstein, a prominent securities litigation firm with a track record of securing major settlements (including a $1 billion recovery in the Wells Fargo case), adds credibility to the case.

The January 7, 2025 deadline for lead plaintiff designation provides a clear timeline for potential legal proceedings. The lawsuit's focus on violations of Sections 10(b) and 20(a) of the Securities Exchange Act suggests potential material misrepresentations that could result in substantial damages if proven. For current shareholders, this legal action could lead to significant corporate governance changes and potential financial settlements that would impact TMC's already modest $312 million market capitalization.

WASHINGTON, DC / ACCESSWIRE / November 19, 2024 / Investors who lost money on securities of TMC the metals company Inc. ("TMC" or the "Company") (Nasdaq:TMC) purchased between May 12, 2023 and March 25, 2024 can contact Cohen Milstein Sellers & Toll PLLC to learn about a new class action securities lawsuit.

To learn about your legal options, click here to hear from member of the Cohen Milstein team or contact Partner Molly J. Bowen at (202) 408-4600 or mbowen@cohenmilstein.com.

CASE BACKGROUND: TMC is a deep-sea mineral exploration company. A complaint filed on November 8, 2024 in the U.S. District Court for the Central District of California alleges that the Company and certain current officers and directors made false and misleading statements to investors in financial statements and regarding internal controls over financial reporting in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

NEXT STEPS: If you suffered a significant loss in TMC shares purchased during the proposed class period of May 12, 2023 and March 25, 2024, and are interested in serving as lead plaintiff in this action, you have until January 7, 2025 to request that the court appoint you as lead plaintiff. You are not required to file a lead plaintiff motion to share in any recovery in this action as a class member.

OUR FIRM: With more than 100 attorneys in eight offices, Cohen Milstein is one of the largest plaintiff-side law firms in the U.S., with more than four decades of experience litigating securities fraud cases. We have recovered billions of dollars to investors, including $1 billion last year as co-lead counsel in In re Wells Fargo & Company Securities Litigation, and are perennially recognized as one of the best securities practice groups in the country by legal publications such as The National Law Journal, Law360, Chambers USA, and The Legal 500. For more information visit www.cohenmilstein.com.

Prior results do not guarantee a similar outcome. This may be considered Attorney Advertising.

CONTACT INFORMATION:

Molly Bowen, Esq.
Licensed in DC, Florida, and Ohio
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W., Fifth Floor
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: mbowen@cohenmilstein.com
Website: www.cohenmilstein.com

SOURCE: Cohen Milstein Sellers & Toll PLLC

View the original press release on accesswire.com

FAQ

What is the deadline for TMC shareholders to file as lead plaintiff in the class action lawsuit?

Shareholders have until January 7, 2025 to request appointment as lead plaintiff in the class action lawsuit against TMC The Metals Company.

What period does the TMC class action lawsuit cover?

The class action lawsuit covers shareholders who purchased TMC securities between May 12, 2023 and March 25, 2024.

What are the allegations in the TMC securities lawsuit?

The lawsuit alleges that TMC and certain officers made false and misleading statements in financial statements and regarding internal controls, violating Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.