Bragar Eagel & Squire, PC Reminds Investors Of This Category

NEW YORK, Nov. 02, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class actions have been filed on behalf of shareholders of LoanDepot, Inc. (NYSE: LDI), TMC the metal company (NASDAQ: TMC), Tencent Music Entertainment Group (NYSE: TME), Camber Energy, Inc. (NYSE: CEI). Shareholders have until the deadlines below to request the court to act as principal plaintiff. Additional information on each case can be found at the link provided.

LoanDepot (NYSE: LDI)

Appeal period: February 11, 2021 IPO

Lead Applicant Deadline: November 8, 2021

In February 2021, LoanDepot completed its initial public offering (“IPO”), selling 3.85 million Class A common shares at $ 14.00 per share.

As of August 17, 2021, LoanDepot shares had fallen to $ 8.07 per share, down more than 42% from the IPO price after the company disclosed disappointing second quarter financial results 2021 and provided significantly lower forecasts for its activities.

According to the complaint, LoanDepot violated the Securities Act of 1933 because the registration statement did not disclose that: (1) the company’s loan origins had already declined significantly at the time of the IPO due industry overcapacity and increased competition; (2) that the profit margins on the sale of the Company had already considerably diminished at the time of the IPO; (3) that as a result, the revenues and growth of the Company would be adversely affected; (4) that the Company had already been forced to embark on a major expenditure reduction plan due to the significantly lower growth and the refinancing arrangements that the Company was experiencing; and (5) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.

For more information on the LoanDepot class action lawsuit, visit: https://bespc.com/cases/LDI

TMC the metals company (NASDAQ: TMC)

Course period: from March 4, 2021 to October 5, 2021

Principal applicant deadline: December 27, 2021

According to the lawsuit, the defendants throughout the litigation period made false and / or misleading statements and / or failed to disclose: (1) the Company had overpaid significantly to acquire Tonga Offshore Mining Limited (“TOML “) To undisclosed insiders; (2) the Company had artificially inflated its exploration expenses of Nauru Ocean Resources Inc. (“NORI”) to give investors a false scale of its operations; (3) the company’s alleged 100% stake in NORI was questionable given previous disclosures to the International Seabed Authority (“ISA” or “the Authority”) that NORI was wholly owned by two Nauruan foundations and that all future NORI revenues would be used in Nauru; (4) The defendants had significantly downplayed the environmental risks of polymetallic nodules from deep sea mining and failed to properly warn investors of the regulatory risks faced by the Company’s environmentally risky operating plans ; (5) the Company’s private investment in public equity financing (“PIPE”) was not fully committed and, therefore, the Company would not have the necessary liquidity for large-scale commercial production; (6) due to the above, the valuation of the Company was significantly lower than that of the defendants disclosed to the investors; and (7) accordingly, the defendants’ public statements were materially false and / or misleading at all material times.

When the real details entered the market, the lawsuit claims that investors have suffered damage.

For more information on the TMC class action lawsuit, visit: https://bespc.com/cases/TMC

Tencent Musical Entertainment Group (NYSE: TME)

Class period: March 22, 2021 to March 29, 2021

Principal applicant deadline: December 27, 2021

According to the lawsuit, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of U.S. Tencent Music (ADS) depository shares during the Class Period while in possession of material non-public information. on Archegos Capital Management (at the time a family office with $ 10 billion under management) and its need to completely liquidate its position in Tencent Music due to the pressure of margin calls. With those sales, the defendants in this case, Goldman Sachs and Morgan Stanley, avoided billions in combined losses.

When the real details entered the market, the lawsuit claims that investors have suffered damage.

For more information on the TME class action lawsuit, visit: https://bespc.com/cases/TME

Camber Energy, Inc. (NYSE: CEI)

Class period: February 18, 2021 to October 4, 2021

Principal applicant deadline: December 28, 2021

Throughout 2021, Camber failed to timely file the required financial statements with the SEC. As a result, financial reporting services such as Yahoo! Finance and Bloomberg were forced to rely on infrequent and outdated updates to SEC filings to estimate the company’s issued and outstanding common shares. For example, prior to a recent Company update on October 6, 2021, the widely publicized estimate of the Company’s issued and outstanding common shares was 104.2 million, itself based on a filing by the Company to the SEC on July 12, 2021. When the company provided an update on October 6, 2021, it reported 249.6 million shares issued and outstanding, a significantly higher number.

Throughout the Class Period, the defendants have made materially false and misleading representations regarding the affairs, operations and compliance policies of the Company. Specifically, the Defendants have made false and / or misleading statements and / or failed to disclose that: (i) Camber overstated the financial and business prospects of Viking as well as the Combined Company after the Merger; (ii) Camber has failed to inform investors and / or downplay that its acquisition of a controlling interest in Viking would exacerbate the Company’s overdue financial statements and its NYSE listing requirements; (iii) an institutional investor diluted Camber’s shares at a significant rate following the Company’s update of July 12, 2021 regarding the number of its issued and outstanding common shares; and (iv) accordingly, the Company’s public statements were materially false and misleading at all material times.

For more information on the Camber class action lawsuit, visit: https://bespc.com/cases/CEI

About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.

Contact details:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
[email protected]
www.bespc.com

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