NEW YORK, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of Stable Road Acquisition Corp., CorMedix Inc., Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited, and Activision Blizzard. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
Stable Road Acquisition Corp. (“Stable Road” or the “Company”) (NASDAQ: MNTS)
Class Period: October 7, 2020 to July 13, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: September 13, 2021
The lawsuits allege that, throughout the Class Period, Defendants misrepresented and failed to disclose adverse facts about Momentus’ business, operations, and prospects and Stable Road’s due diligence activities in connection with the merger, which were known to Defendants or recklessly disregarded by them, as follows: (a) Momentus’ 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus’ own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (b) the U.S. government had conveyed that it considered Momentus’ former CEO, Kokorich, a national security threat, which jeopardized Kokorich’s continued leadership of Momentus and Momentus’ launch schedule and business prospects; (c) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (d) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and Defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.
For additional information on the Stable Road lawsuits please visit this website.
CorMedix Inc. (“CorMedix” or the “Company”) (NASDAQ: CRMD)
Class Period: July 8, 2020 to May 13, 2021
Pending Court: U.S. District Court for the District of New Jersey
Lead Plaintiff Deadline: September 20, 2021
The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors the following: (1) deficiencies existed with respect to DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; (2) in light of the foregoing deficiencies, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the DefenCath New Drug Application (“NDA”) for catheter-related bloodstream infections in its present form; (3) Defendants had downplayed the true scope of the deficiencies with DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
For additional information on the CorMedix lawsuit please visit this website.
Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited (“Piedmont” or the “Company”) (NASDAQ: PLL)
Class Period: March 16, 2018 to July 19, 2021
Pending Court: U.S. District Court for the Eastern District of New York
Lead Plaintiff Deadline: September 21, 2021
The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business do not have strong local government support; and (5) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For additional information on the Piedmont lawsuit please visit this website.
Activision Blizzard, Inc. (“Activision Blizzard” or the “Company”) (NASDAQ: ATVI)
Class Period: August 4, 2016 to July 27, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: October 4, 2021
The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Activision Blizzard discriminated against women and minority employees; (2) Activision Blizzard fostered a pervasive “frat boy” workplace culture that continues to thrive; (3) numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard’s operations; (5) as a result of the foregoing, the Company was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision Blizzard failed to inform shareholders that California’s Department of Fair Employment and Housing had been investigating Activision Blizzard for harassment and discrimination; and (7) as a result, Defendants’ statements about Activision Blizzard’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For additional information on the Activision Blizzard lawsuit please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.,
(212) 371-6600
investigations@kmllp.com
www.kmllp.com
