Class action lawsuit filed against Next Bridge Hydrocarbons for alleged false and misleading statements during its spin-off from Meta Materials, violating the Securities Act of 1933.
Class action lawsuit filed against Next Bridge Hydrocarbons, Inc. (NBH) alleges false and misleading registration statement during its spin-off from Meta Materials, Inc. on Dec 14, 2022. The complaint accuses NBH of misrepresenting the value of its oil and gas assets and its transactions with related parties, violating the Securities Act of 1933. Investors who purchased shares during the spin-off can apply to be lead plaintiff in the lawsuit until May 14, 2024.
March 20, 2024
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