The Company can offer no assurances as to the outcome of this investigation or its potential effect, if any, on the Company or its results of operation.

The Company is cooperating and intends to continue to cooperate with the SEC’s investigation. The subpoena requests that the Company produces certain documents and information related to, among other things, the merger involving Torchlight Energy Resources, Inc. In September 2021, the Company received a subpoena from the Securities and Exchange Commission, Division of Enforcement, in a matter captioned In the Matter of Torchlight Energy Resources, Inc. The 3Q21 Report announced the SEC subpoena, stating the following in pertinent part: On November 15, 2021, after market hours, the Company filed with the SEC its quarterly report on Form 10-Q for the period ended Septem(the “3Q21 Report”). When the true details entered the market, the lawsuit claims that investors suffered damages. (2) the Company has materially overstated its business connections and dealings (3) the Company has materially overstated its ability to produce and commercialize its products (4) the Company has materially overstated its products’ novelty and capabilities (5) the Company’s products did not have the potential to be disruptive because, among other things, the Company priced its products too high and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times. would result in an SEC investigation and subpoena in the matter captioned In the Matter of Torchlight Energy Resources, Inc. You may also click here for additional information: There is no cost or obligation to you.įaruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.Īs detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the business combination of Torchlight Energy Resources, Inc.

If you suffered losses exceeding $100,000 investing in Meta Materials stock or options between Septemand Decemand would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 87 or 21 (Ext. (“Meta Materials” or the “Company”) (NASDAQ: MMAT) and reminds investors of the Madeadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. 27, 2022 (GLOBE NEWSWIRE) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Meta Materials Inc.

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