Executives at Stable Road Acquisition Corp. and space cargo company Momentus Inc. misled investors about Momentus’ readiness to go to market in their public filings about the blank-check deal, a new shareholder suit says.
The complaint, filed Thursday in the U.S. District Court for the Central District of California, comes two days after the firms were fined $8 million by the Securities and Exchange Commission for alleged omissions and misleading statements, including a claim that Momentus’ propulsion system had been “successfully tested” in space.
The proposed class action, led by shareholder Keith Jensen, names Stable Road’s CEO Brian Kabot and ...
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