SAN DIEGO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by TMC the metals company Inc. ("TMC" or the "Company") TMC.
On October 6, 2021, Bonitas Research, a short seller, released a report alleging multiple problems with TMC. The allegations include that TMC siphoned US$ 43 million in cash and stock to undisclosed insiders by overpaying for Tonga Offshore Mineral License ("TOML"). Along with this Bonita's states, "TOML's previous owner, Nautilus Minerals Inc. NMI ("NMI") valued the TOML exploration license in its historical annual reports at zero."
Following this news, TMC's stock price fell over 7% in early morning trading on October 6, 2021.
If you have information that could assist in this investigation, including past employees and others, or a TMC shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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