MMAT - Investor Notice: Robbins LLP Informs Investors of Class Action Filed Against Next Bridge Hydrocarbons Inc. | Benzinga
SAN DIEGO, March 18, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons or entities that acquired shares of Next Bridge Hydrocarbons, Inc. in connection with the Company's spin-off from Meta Materials, Inc. (NASDAQ:MMAT) on around December 15, 2022.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating the Allegations that Next Bridge Hydrocarbons, Inc. Made False and Misleading Statements in its Registration Statement Related to the Spin-Off of its Oil and Gas Assets
According to the complaint, Next Bridge arose out of a company named Torchlight Energy Resources, Inc. Torchlight was an oil and gas company. In June 2021, Torchlight merged into Meta Materials Inc. In connection with the merger, legacy Torchlight shareholders received shares of non-voting Meta Materials preferred stock (the "Preferred Stock"). The Preferred Stock corresponded to the oil and gas assets that Meta Material acquired ...