Meta Materials Announces Update on Short Selling Investigation
07/03/2024Warshaw Burstein's client, Meta Materials Inc., an advanced materials and nanotechnology company, recently announced an update on the short selling investigation undertaken in June of 2023.
In an initial press release from late June 2023, META outlined its preliminary analysis of potential naked short selling, and retained well-known analytics firm, Shareholder Intelligence Services, LLC to review trading patterns of the Company's common stock. Based on this analysis, and with zero tolerance for illegal naked short selling and other stock manipulation, META employed the services of law firms Christian Attar and Warshaw Burstein to determine the merit of such claims.
Since June 2023, the law firms have conducted an exhaustive investigation and undertaken in-depth due diligence. The lawyers have now concluded that META has meritorious claims for market manipulation against several parties.
