Momentus Sued By Shareholder Claiming Deceit During Merger

Momentus Inc., a company specializing in space transportation, was sued by a shareholder alleging its board members misled investors during a merger with a blank check company.

Plaintiff Justin Rivlin brought his derivative action on Tuesday in the US District Court for the Central District of California. Rivlin alleges that Momentus director Brian Kabot, former Chief Financial Officer James Norris, and other former directors made false and misleading statements in order to close and profit from the merger.

Momentus, formerly known as Stable Road Acquisition Corp., renamed itself after merging with Space Apprentices Enterprise Inc. on Aug. 12, 2021.

Kabot ...