Core Points - The Metals Company (TMC) is focused on exploring and refining polymetallic nodules to produce critical battery metals, including nickel, cobalt, and copper, which are essential for the energy transition [1][3] - Recent legislation signed into law mandates a feasibility study by the Defense Department to assess domestic refining capabilities for nodule-derived intermediates, aiming to enhance U.S. supply chains for critical minerals [5][14] - TMC's U.S. subsidiary has applied for a $9 million grant under the Defense Production Act to support the development of a domestic refinery for these materials [5] Company Overview - TMC operates in the Clarion Clipperton Zone of the Pacific Ocean, holding exploration and commercial rights to three contract areas regulated by the International Seabed Authority [3] - The company aims to supply battery metals with minimal environmental impact and to promote recycling and recovery of these metals for sustainable use [3] Legislative Support - The FY25 National Defense Authorization Act (NDAA) includes provisions for a feasibility study on refining nodule-derived intermediates, reflecting strong bipartisan support for enhancing domestic mineral supply chains [5][11] - Key lawmakers, including Rep. Rob Wittman and Rep. Brad Finstad, emphasize the importance of developing domestic refining capabilities to reduce reliance on foreign sources and enhance national security [6][7] Industry Context - The U.S. is seeking to secure a stable supply of responsibly sourced critical minerals, with a focus on reducing vulnerabilities in its battery supply chains, particularly in nickel refining [14] - The Responsible Use of Seafloor Resources Act has been introduced to support international governance and responsible collection of seafloor resources, indicating a strategic approach to resource management [2][12]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against TMC the metals company Inc due to allegations of violations of federal securities laws, encouraging affected investors to seek legal recourse [2][4]. Group 1: Allegations Against TMC - The complaint alleges that TMC and its executives made false and misleading statements and failed to disclose deficiencies in internal controls over financial reporting [4]. - TMC inaccurately classified the sale of future revenue from the LCR Partnership as deferred income instead of debt, which will require restatement of previously issued financial statements [4][5]. - The company disclosed on March 25, 2024, that its financial statements for the first three quarters of 2023 should be restated, affecting the classification of proceeds from LCR [5]. Group 2: Financial Impact - Following the announcement of the need for restatement, TMC's stock price fell by $0.205 per share, representing a decline of 13.23%, closing at $1.345 per share on March 26, 2024 [6]. Group 3: Legal Proceedings - Investors who suffered losses exceeding $75,000 in TMC between May 12, 2023, and March 25, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - There is a deadline of January 7, 2025, for investors to seek the role of lead plaintiff in the federal securities class action against TMC [2].

Core Points - Rosen Law Firm is reminding purchasers of TMC the metals company Inc. securities about the lead plaintiff deadline of January 7, 2025 for a class action lawsuit [1] - Investors who purchased TMC securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1][2] Group 1: Class Action Details - A class action lawsuit has been filed against TMC, and interested parties can join by submitting a form or contacting the law firm [2][5] - The lawsuit alleges that TMC made false and misleading statements regarding its financial reporting and internal controls, which led to misclassification of revenue [4] Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company at the time [3] - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions for investors [3]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased TMC the metals company Inc. securities between May 12, 2023, and March 25, 2024, of the January 7, 2025, deadline to become a lead plaintiff in a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought TMC securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the Court by January 7, 2025, to serve as lead plaintiff [2]. - The lawsuit alleges that TMC made false and misleading statements regarding its financial reporting and internal controls, which led to investor damages when the truth was revealed [4]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [3]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3]. - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, highlighting the firm's expertise in this area [3].

Core Viewpoint - TMC the metals company Inc. is facing a class action lawsuit due to the need to restate its financial statements for the first three quarters of 2023, which has resulted in significant losses for investors [1][3][4]. Group 1: Class Action Details - The class action represents investors who purchased TMC securities between May 12, 2023, and March 25, 2024, with a deadline of January 7, 2025, for filing a lead plaintiff motion [1]. - Investors are encouraged to contact the Portnoy Law Firm for a complimentary case evaluation and to discuss their legal rights [2]. Group 2: Financial Statement Issues - On March 25, 2024, TMC announced that its financial statements for the first three quarters of 2023 were unreliable and would require restatement due to issues with its partnership with Low Carbon Royalties Inc. [3]. - The restatement is related to the categorization of proceeds from LCR as either debt or deferred income, with future revenue being reclassified as a royalty liability [3]. Group 3: Stock Price Impact - Following the announcement of the financial statement restatement, TMC's stock price fell by $0.205, or 13.2%, closing at $1.345 per share on March 26, 2024, leading to investor losses [4].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In TMC To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $75,000 in TMC between May 12, 2023 and March 25, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Faruqi & ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of TMC the metals company Inc. (NASDAQ: TMC) between May 12, 2023 and March 25, 2024, both dates inclusive (the “Class Period”), of the important January 7, 2025 lead plaintiff deadline. SO WHAT: If you purchased TMC securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. ...

NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of TMC the metals company Inc. (NASDAQ: TMC) between May 12, 2023 and March 25, 2024, both dates inclusive (the “Class Period”), of the important January 7, 2025 lead plaintiff deadline. SO WHAT: If you purchased TMC securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. ...

LOS ANGELES, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming January 7, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired TMC the metals company Inc. (“TMC” or the “Company”) (NASDAQ: TMC) securities between May 12, 2023 and March 25, 2024, inclusive (the “Class Period”). If you suffered a loss on your TMC investments or would like to inquire about potentially pursuing cla ...

SAN DIEGO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired TMC the metals company Inc. (NASDAQ: TMC) securities between May 12, 2023 and March 25, 2024. TMC is a deep-sea minerals exploration company focused on the collection, processing, and refining of polymetallic nodules. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The All ...