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TORCHLIGHT ENERGY RESOURCES

(TRCH)
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MMAT; TRCH; MMTLP Investor Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. Shareholders of Class Action and Lead Deadline: March 4, 2022

01/14/2022 | 11:02am EST

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (“Meta” or the “Company”) (NASDAQ: MMAT, TRCH) (OTC: MMTLP) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Meta securities between September 21, 2020 and December 14, 2021, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/mmat.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena in the matter captioned In the Matter of Torchlight Energy Resources, Inc.; (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. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/mmat or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Meta you have until March 4, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.


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Financials (USD)
Sales 2020 0,19 M - -
Net income 2020 -12,8 M - -
Net Debt 2020 16,4 M - -
P/E ratio 2020 -4,97x
Yield 2020 -
Capitalization 632 M 632 M -
EV / Sales 2019 106x
EV / Sales 2020 444x
Nbr of Employees 4
Free-Float 67,8%
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