TMC The Metals Co. ended investor allegations that the deep sea miner misrepresented its environmental impacts and cash reserves surrounding its 2021 blank-check company merger to go public, a federal judge ruled.
No purported misstatements were sufficiently alleged as false or misleading to support securities fraud claims, Judge Eric R. Komitee said while dismissing the lawsuit. Nor did the investors adequately plead the level of intent or recklessness to deceive by TMC, CEO Gerard Barron, or the former CEO of the special purpose acquisition company that its predecessor merged with, the US District Court for the Eastern District of New ...
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