BUSINESS: TMC ALERT: Bragar Eagel & Squire, P.C. TMC Reminds Investors That A Class Action Lawsuit Has Been Filed Against The Metals Company. Investors Are Encouraged To Contact The Firm

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by Daniel Webster, dWeb.News Publisher

NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against TMC the metals company (“TMC” or the “Company”) (NASDAQ: TMC) in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired TMC securities between March 3, 2021 and October 5, 2021, both dates inclusive (the “Class Period”). Investors have until December 27, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) the Company had significantly overpaid to acquire Tonga Offshore Mining Limited (“TOML”) to undisclosed insiders; (2) the Company had artificially inflated its Nauru Ocean Resources Inc. (“NORI”) exploration expenditures to give investors a false scale of its operations; (3) the Company’s purported 100% interest in NORI was questionable given prior disclosures to the International Seabed Authority (“ISA” or the “Authority”) that NORI was wholly owned by two Nauruan foundations and that all future income from NORI would be used in Nauru; (4) defendants had significantly downplayed the environmental risks of deep-sea mining polymetallic nodules and failed to adequately warn investors of the regulatory risks faced by the Company’s environmentally risky exploitation plans; (5) the Company’s private investment in public equity (“PIPE”) financing was not fully committed and, therefore, the Company would not have the cash necessary for large sale commercial production; (6) as a result of the foregoing, the Company’s valuation was significantly less than defendants disclosed to investors; and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

TMC stock fell 4% to $3 after this news. 98 per share in pre-market hours on October 6, 2021.

If you purchased or otherwise acquired TMC 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 or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There are no costs or obligations.

About Bragar Eagel & Squire, P.C. :

Bragar Eagel & Squire, P.C. The law firm is nationally known and has offices in New York, California, South Carolina. The firm represents institutional and individual investors in complex commercial, securities, derivative and other litigation in federal and state courts throughout the country. For more information about the firm, please visit www.bespc.com. Advertising for attorneys. Precedent results are not indicative of similar outcomes.

Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

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