NEW YORK, Oct. 7, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Stable Road Acquisition Corp. ("SRAC" or the "Company") (NASDAQ: SRAC) in connection with the Company's proposed merger with privately-held Momentus Inc. ("Momentus"). Under the terms of the merger agreement, SRAC will acquire Momentus through a reverse merger that will result in Momentus becoming a publicly-listed company on the Nasdaq and trade under the ticker symbol "MNTS." The transaction implies an equity value of $1.2 billion for Momentus on a pro forma basis.
If you own SRAC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether SRAC's board acted in the best interest of SRAC's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Momentus, and whether all information regarding the valuation of the transaction will be fully and fairly disclosed to SRAC public shareholders. Notably, Momentus' existing equity security holders will hold approximately 75% of the issued and outstanding shares of Class A common stock immediately following the consummation of the merger, assuming no redemptions by Stable Road's existing public stockholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]