NEW YORK, Nov. 13, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of 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"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 7, 2025.So what: If you purchased TMC securities during the Class Per ...

NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against TMC the metals company Inc. ("TMC" or the "Company") (NASDAQ: TMC) in the United States District Court for the Central District of California on behalf of all persons and entities who purchased or otherwise acquired TMC securities between May 12, 2023 and March 25, 2024, both dates inclusive (the “Class Period”). Investors ...

ATLANTA, Nov. 12, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against TMC the metals company Inc. (“TMC” or “the Company”) (NASDAQ: TMC). The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and compliance policies, including allegations that: (i) TMC maintained deficient internal controls over financial reporting; (ii) as a result, the Company ...

LOS ANGELES, Nov. 12, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against TMC the metals company Inc. ("TMC" or "the Company") (NASDAQ: TMC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between May 12, 2023 and March 25, 2024, inclusive (the "Class Period"), ...

SAN DIEGO, Nov. 11, 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 ...

Core Viewpoint - A class action lawsuit has been filed against TMC the metals company Inc. for failing to disclose deficiencies in its internal controls over financial reporting, leading to misclassification of financial statements [1][2]. Group 1: Allegations and Financial Misstatements - The lawsuit alleges that TMC did not disclose that it maintained deficient internal controls over financial reporting [2]. - TMC inaccurately classified the sale of future revenue from the LCR Partnership as deferred income instead of debt, which is a significant accounting error [2]. - On March 25, 2024, TMC announced that its financial statements for the first three quarters of 2023 should be restated, indicating that the previous classifications were incorrect [3]. Group 2: Impact on Stock Price - Following the disclosure of the need to restate financial statements, TMC's stock price fell by $0.205 per share, a decrease of 13.23%, closing at $1.345 per share on March 26, 2024 [3]. Group 3: Class Action Participation - Shareholders interested in participating in the class action must submit their application to serve as lead plaintiff by January 7, 2025 [4]. - Shareholders can remain absent class members if they choose not to participate in the case [4]. Group 4: About Robbins LLP - Robbins LLP is a law firm specializing in shareholder rights litigation and has recovered over $1 billion for shareholders since its inception in 2002 [6].

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it will host a conference call on Thursday, November 14, 2024, to provide an update on third quarter financial results and recent corporate developments.  Third Quarter 2024 Conference Call Details  Date: Thursday, November 14, 2024  Time: 4:30 p.m. ET  Audio-only Dial-in: Register Here  Virtual webcast with ...

NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) ("TMC" or "the Company"), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the second quarter ending June 30, 2024. Q2 2024 Financial Highlights Current liquidity available from credit facilities of approximately $48.3 million Increased borrowing capacity of our unsecured credit facilities by $7.5 million in August 2024: ERAS/Barron f ...

TMC, based in Des Moines, Iowa, has selected Trimble's Instinct and Video Intelligence fleet management solutions to improve the overall safety, compliance and operational efficiency of its fleet. TMC, based in Des Moines, Iowa, has selected Trimble's Instinct and Video Intelligence fleet management solutions to improve the overall safety, compliance and operational efficiency of its fleet. Founded in 1972, TMC is a leader in North America's flatbed transportation services and the largest privatelyheld flat ...

Company Overview - The Metals Company (TMC) is focused on deep-sea minerals exploration, specifically targeting critical battery metals in the Clarion Clipperton Zone (CCZ) [2] - TMC went public via a SPAC in September 2021 and has since seen a return of -86.7%, trading at $1.41 per share as of June 13, 2024 [2] - The company currently generates zero revenue and cannot market its products, with small-scale commercial operations expected to begin in Q1-2026 [2][9] Financial Position - TMC is projected to continue burning cash for another 18-20 months at a rate of approximately $60 million per year, necessitating an additional financing requirement of $90 million to $100 million [2] - As of Q1-2024, TMC has access to $215 million in funding through various equity and debt financing vehicles, including a $20 million credit facility from shareholders [2][12] - The company reported a cash burn of $12.1 million in Q1-2024, a nearly 50% decrease compared to Q1-2023, and had $4 million in cash and equivalents remaining [18] Market Dynamics - Battery metals markets are currently volatile, with significant price declines over the past year for nickel (-17.1%), cobalt (-13.5%), and lithium (-71.4%), while copper has increased by 19.8% [7] - The slowdown in global EV sales growth is negatively impacting midterm demand for battery metals [7] Regulatory Environment - TMC is awaiting an exploitation permit from the International Seabed Authority (ISA), with no deep-sea mining projects currently operational in the CCZ [8] - Management plans to apply for the exploitation license in July 2024, with the approval process expected to take an additional 12 months [8] - Political support for deep-sea mining is reportedly growing, with Norway beginning commercial operations and other countries like France and China softening their stances [8] Competitive Position - TMC has an offtake agreement with Glencore for 50% of its production once operations commence, which may expedite commercial activities [2][16] - The targeted nodules in the CCZ are noted for their higher metal content compared to traditional mining sources, making them attractive for future operations [16] Investment Outlook - TMC is viewed as a highly risky and speculative investment, with potential upside if regulatory approvals are obtained [2][15] - The company’s success hinges on its ability to secure financing until it can operate commercially, with various untapped financing options available [19]