NEW YORK, July 29, 2021--(BUSINESS WIRE)--Bursor & Fisher P.A., a consumer rights litigation firm, announces that class action lawsuits have been filed against Stable Road Acquisition Corp. (NASDAQ:SRAC; SRACW; SRACU) on behalf of investors who held the securities during the period between October 7, 2020 and July 13, 2021 (the "Class Period"). The Stable Road class action lawsuits charge Stable Road, its sponsor SRC-NI Holdings, LLC, and certain of its executives, along with Momentus Inc. and its former CEO, with violations of the Securities Exchange Act of 1934. Two Stable Road class action lawsuits are currently pending in the Central District of California (Jensen v. Stable Road Acquisition Corp., No. 21-cv-05744, assigned to Judge John F. Walter, and Hall v. Stable Road Acquisition Corp., No. 21-cv-05943).
If you suffered substantial losses and wish to serve as lead plaintiff of the Stable Road lawsuits, please contact attorneys L. Timothy Fisher, Andrew Obergfell, or Stephen Beck at firstname.lastname@example.org or by calling 646-837-7150. The deadline to file a lead plaintiff motion is September 13, 2021.
CASE ALLEGATIONS: The securities violations alleged in the complaints include that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Momentus’s 2019 test of its key technology failed to meet Momentus’s own public and internal pre-launch criteria for success; (2) the U.S. government had conveyed that it considered Momentus’s CEO, Mikhail Kokorich, a national security threat, which jeopardized Kokorich’s continued leadership at Momentus as well as Momentus’s business prospects; and (3) Stable Road failed to conduct appropriate due diligence of Momentus and its business operations and that Defendants materially misrepresented the due diligence activities being conducted by Stable Road and its executives and its sponsor in connection with the merger.
Pursuant to the Private Securities Litigation Reform Act ("PSLRA"), 15 U.S.C. §78u-4(a)(3)(A)(i)(ii), any member of the purported class seeking to serve as a lead plaintiff of the purported class shall, no later than September 13, 2021, move the Court for appointment as lead plaintiff and approval of lead plaintiff’s selection of counsel. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice. Your ability to share in any recovery does not require that you serve as lead plaintiff.
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