Meta Materials Inc. (MMAT)

Meta Materials (NASDAQ: MMAT ) stock is taking a beating on Monday after the functional materials and nanocomposites company filed for Chapter 7 bankruptcy. Meta Materials notes that it only filed for Chapter 7 bankruptcy after exhausting all strategic alternatives.

Meta Materials (NASDAQ: MMAT ) stock is in the spotlight after the company was charged with violating “the antifraud, reporting, internal accounting controls, and books and records provisions of the federal securities laws.” Meta has agreed to settle the charges with a $1 million fine without admitting or denying the wrongdoings.

Washington, D.C.--(Newsfile Corp. - June 25, 2024) - The Securities and Exchange Commission today filed charges against Meta Materials Inc. and its former CEOs, John Brda and George Palikaras.

Certain growth stocks continue to excel in this market. Many of these companies are propelled by smart management teams that make good strategic decisions and by long-term catalysts, with AI remaining the top item of focus for many investors.

NEW YORK, NY / ACCESSWIRE / June 4, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ: MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.

A couple of weeks ago, there was significant activity (particularly in media coverage) regarding the seeming resurgence of meme stocks. The classics of the meme mania, AMC Entertainment (NYSE: AMC ) and GameStop (NYSE: GME ), rocketed higher.

NEW YORK, NY / ACCESSWIRE / May 30, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ: MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.

Specialty components manufacturer Meta Materials (NASDAQ: MMAT ) — which focuses on various functional materials and nanocomposites — saw its shares rise dramatically on Tuesday. Management announced that it has launched a legal investigation regarding allegations of naked short selling.

HALIFAX, NS / ACCESSWIRE / May 20, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced an update on the short selling investigation undertaken in June of 2023.In an initial press release from late June 2023, META outlined its preliminary analysis of potential naked short selling, and retained well-known analytics firm, Shareholder Intelligence Services, LLC to review trading patterns of the Company's common stock. Based on this analysis, and with zero tolerance for illegal naked short selling and other stock manipulation, META employed the services of law firms, Christian Attar and Warshaw Burstein (collectively "Lawyers") to determine merit of such claims.Since June 2023, the Lawyers have conducted an exhaustive investigation and undertaken in-depth due diligence. The Lawyers have now concluded that META has meritorious claims for market manipulation against several parties. "I believe META has an actionable case in connection with its MMAT/MMTLP claims. We look forward to working with the company," noted James "Wes" Christian, partner with Christian Attar.Noted META Board Chairman, Jack Harding, "We needed all available data (unearthed by these esteemed securities law firms) at our disposal to delineate stock manipulation, and by which parties. We are now equipped with the necessary information to act and will be further sharing these findings with regulatory agencies. Simultaneously, we expect to file legal proceedings in the coming quarters against the responsible financial service firms." META looks forward to releasing additional press releases as more information becomes available.About Meta Materials Inc.Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Learn more at www.metamaterial.com.Media and Investor InquiriesInvestor RelationsMeta Materials Inc.media@metamaterial.comir@metamaterial.comForward Looking InformationThis press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the costs associated with the workforce reduction, the expected timing of implementing and completing the workforce reduction, and the Company's review and evaluation of potential strategic alternatives. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. For a discussion of these risks and uncertainties, and other important factors, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in subsequent filings with the Securities and Exchange Commission ("SEC"), as well as discussions of potential risks, uncertainties and other important factors in the Company's subsequent filings with the SEC. Forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.SOURCE: Meta Materials Inc.

NEW YORK, NY / ACCESSWIRE / May 16, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ:MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.

This week will go down in market history as the return of Roaring Kitty. Keith Gill — known as Roaring Kitty on social media — the Massachusetts man credited with launching the GameStop (NYSE: GME ) short squeeze of 2021, picked an interesting time to return to social media.

NEW YORK, NY / ACCESSWIRE / May 14, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ:MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / May 7, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ:MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.

Another unstable meme stock may be on its way out the door. Meta Materials (NASDAQ: MMAT ) has been struggling for well over a year and hasn't reported a positive catalyst in months.

HALIFAX, NS / ACCESSWIRE / May 3, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced that the Company's Board of Directors approved a workforce reduction of approximately 80% of its employees, which is expected to be completed over the next few weeks. This difficult decision is in response to challenges associated with liquidity and securing additional financing.

NEW YORK, NY / ACCESSWIRE / May 2, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ:MMAT). The settlement provides for a fund of $3,000,000 to benefit class members.