SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of TMC the metals company Inc. f/k/a Sustainable Opportunities Acquisition Corp. of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 27, 2021

New York, New York – (Newsfile Corp. – Nov. 27, 2021) – The following statement is issued by Levi & Korsinsky, LLP:

To: Any person or entity who, between March 4, 2021 and October 5, 2021, acquired the securities of TMC the metals company Inc. f / k / a Sustainable Opportunities Acquisition Corp. (“TMC”) (NASDAQ: TMC) purchased or otherwise obtained. You are hereby informed that a securities class action has been initiated in the United States District Court for the Eastern District of New York. For more information go to:

TMC the metals company Inc. Loss Submission Form

or contact Joseph E. Levi, Esq. either by email at jlevi@levikorsinsky.com or by phone at (212) 363-7500. There are no costs or obligations for you.

TMC the metals company Inc. f / k / a Sustainable Opportunities Acquisition Corp. NEWS – TMC NEWS

CASE DETAILS: According to the complaint filed: (1) the Company overpaid undisclosed insiders for the acquisition of Tongo Offshore Mining Limited; (2) the Company had artificially inflated its exploration spending on Nauru Ocean Resources Inc. (“NORI”) in order to mislead investors into the scope of its operations; (3) the Company’s alleged 100% stake in NORI was questionable as it was previously announced to the International Seabed Authority that NORI was wholly owned by two Nauruan foundations and that all future NORI revenues would be used in Nauru; (4) Defendants had significantly downplayed the environmental risks posed by the polymetallic nodules of deep-sea mining and failed to adequately warn investors of the regulatory risks to which the company’s environmentally risky mining plans are exposed; (5) the Company’s PIPE funding was not fully committed and the Company would therefore not have the cash and cash equivalents necessary for large-scale commercial production; (6) As a result of the foregoing, the valuation of the company was significantly lower than what the defendants had disclosed to investors; and (7) as a result, Defendants’ public statements were, at all relevant times, materially false and / or misleading.

The story goes on

WHAT THIS MEANS FOR SHAREHOLDERS: If you have suffered a loss at TMC, you can apply until December 27, 2021 for the court to appoint you as the lead plaintiff. Your ability to partake in a recovery does not require you to be the lead plaintiff.

NO COST TO YOU: If you purchased TMC Securities between March 4, 2021 and October 5, 2021, you may be entitled to compensation with no out-of-pocket expenses or fees.

PROTECT YOUR FINANCIAL INTERESTS: Fill out this short submission form https://www.zlk.com/pslra-1/tmc-the-metals-company-inc-loss-submission-form?prid=21575&wire=5 or call 212-363 to -7500 to discuss the case with Joseph E. Levi, Esq.

WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven record of winning hundreds of millions of dollars worth of cases for shareholders over a period of 20 years. We represent and fight for shareholders who have been disadvantaged by companies.

Levi & Korsinsky is a nationally recognized law firm with offices in New York, California, Connecticut and Washington, DC. The firm’s founding partners, Joseph Levi and Eduard Korsinsky, have represented shareholders and institutional clients for nearly 20 years and have had remarkable results for clients in the US and internationally. The company, with more than 80 employees, is committed to promoting, nurturing and maintaining a culture of diversity, equality and inclusion for employees and those we represent. Our attorneys have extensive experience representing investors in securities disputes with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked one of the leading securities litigation firms in the United States in the SCAS Top 50 Report by Institutional Shareholder Services (“ISS”) for 7 consecutive years. The SCAS Top 50 Report identifies the leading securities law firms in the country, and year on year ISS has recognized Levi & Korsinsky as the leading law firm in securities class action.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105375

Comments are closed.