According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- TMC maintained deficient internal controls over financial reporting;
- as a result, TMC inaccurately classified the sale of future revenue attributable to the LCR Partnership (a strategic partnership with Low Carbon Royalties Inc.) as deferred income rather than debt;
- the foregoing misclassification, when it became known, would require TMC to restate one or more of its previously issued financial statements; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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