On November 15, 2021, Meta Materials filed with the SEC its quarterly report for the period ended September 30, 2021, announcing that in September 2021, it had received a subpoena from the SEC requesting the Company to produce certain documents and information related to, among other things, the merger involving Torchlight Energy and Metamaterial Inc. However, as would later be revealed, defendants failed to disclose that the Company had materially overstated its business connections and dealings, had misstated its products' novelty and capabilities, and priced its products too high. The Company touted the business combination, as well as Metamaterial's proprietary advanced technologies, agreements, commercialization, products, and production.

(MMAT) Misled Investors Regarding its Business ProspectsĪccording to the complaint, before the business combination with Metamaterial Inc., which closed on June 28, 2021, the Company was known as Torchlight Energy Resources, Inc. If you suffered a loss due to Meta Material Inc.'s misconduct, click here. Meta Materials purports to be a developer of high-performance functional materials and nanocomposites. (NASDAQ: MMAT) between Septemand December 14, 2021, for violations of the Securities Exchange Act of 1934. SAN DIEGO-( BUSINESS WIRE)-Shareholder rights law firm Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Meta Materials Inc.

Torchlight energy resources inc