SRAC Alert: Johnson Fistel Launches Investigation into Stable Road - Investors Suffering Losses Encouraged to Contact the Firm

SAN DIEGO, July 13, 2021 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Stable Road Acquisition Corp. ("Stable Road " or the "Company") (NASDAQ: SRAC) for violations of federal securities laws.

On July 13, 2021, the U.S. Securities and Exchange Commission (SEC) made known that it has sued Stable Road, a special-purpose acquisition company. The allegation is that Momentus, a Company Stable Road was trying to acquire, lied about its technology, including a fake claim that its propulsion system had been "successfully tested" in space. Stable Road repeated Momentus's misleading statements in public filings, while according to the SEC, failed to conduct adequate due diligence of Momentus.

Momentus agreed to go public through a merger with Stable Road in October for an enterprise value of about $1.2 billion, a price that was later revised lower to $700 million. Following the news, Stable Road fell more than 10% in after-market trading on July 13, 2021.

If you have information that could assist in this investigation, or if you are a Stable Road shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) 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
[email protected]

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SOURCE Johnson Fistel, LLP