George Palikaras, the ousted founder and CEO of Meta Materials has declared his support for an MMTLP lawsuit.
This was retweeted by Anna, who has been identified as the Plaintiff in the Inter-coastal Waterways LLC Vs. Tradestation and FINRA case.
This declaration is compelling support for the Inter-coastal Waterways LLC lawsuit coming from the former CEO of the main company involved.
A summary of the statement was posted by Squatch.
A new video with a personal plea from Andrew is released on X and includes the MMAT bankruptcy information.
Andrew had been teasing some big developments he had been working on.
An X Space call was also hosted regarding the video.
Andrew was looking for someone to post the video after it was completed, and it was eventually sent out by the X account @DiedSuddenly_, which sadly but ironically, died suddenly.
It seems a bit of a coincidence that just as the MMTLP story is shared to a large audience, the account disappears.
The video which features Andrew speaking along with some whiteboard animation has been shared over 2,000 times on the Help X Media account and still can be found online through various retweets.
The video also has Andrew compelling larger influencers such as Joe Rogan to share and cover the MMTLP story.
Thanks to Andrew for putting together the video and his continued effort to bring justice for MMTLP shareholders. Be sure to LIKE and RETWEET, if you can find the video!
This really comes as no surprise, but what does this mean for MMTLP investors?
While this is a move we sadly expected, it could complicate issues for a MMTLP resolution with Meta Materials now bankrupt and ceasing all operations.
In May of this year, Meta announced that they believed they had an actionable claim regarding wrongdoing in MMTLP and MMAT stock.
This was big news and a positive step for MMTLP. But what will happen with this investigation now that the company is bankrupt and ceasing operation?
We’ve seen this company go downhill since George Palikaras’s ousting. I don’t think anyone following Meta closely recently can be too surprised. The current Board of Directors seemed to be actively dismantling the company one step at a time.
We’ve even hinted on Twitter that this is likely due to hedge funds wanting to squash the case for illegalities in their stock.
Meta News sums this up in four sad words. SHORT SELLERS WIN AGAIN.
What’s going to happen to all this evidence they had? That is TBD. We suppose that attorney Wes Christian has the data. But will he do anything with it? If no one’s paying the bills, it’s unlikely. And does he even have the authority to act upon anything with Meta gone? All these answers are unknown at this time, but it’s unlikely anything will become of it. This is exactly what the short sellers wanted.
MMAT stock is down below the $1 threshold today to $.94 a share.
John Brda hinted that Next Bridge has a plan to attempt to deliver some type of resolution to shareholders.
In a tweet by DrewDiligence, he asked John Brda if he thought Next Bridge Hydrocarbons was working on attempting to deliver a resolution for shareholders. Andrew suggested he thought this was possible and John chimed in with just two words. “I do”.
Hey @johnbrda, based solely on actions that NBH has taken by retaining @JohnnyTabacco, and is currently taking by getting current, combined with what theyβve stated in PRβs, do you believe that they have a plan to at least attempt to deliver some kind of resolution? I do.
Of course, as others pointed out in the thread, a “resolution” could be pretty much anything. But we tend to think that Greg McCabe of Next Bridge won’t disappoint shareholders with some low $2.90 settlement.
Only time will tell, but I’m happy to hear John Brda feels something might be brewing.
Scott Traudt, who recently filed a lawsuit against Ari Rubenstein and other parties, is sending out subpoenas.
The recently filed lawsuit names Ari Rubenstein a defendant along with FINRA, Schwab, and GTS Securities.
Scott lists the individuals to whom the subpoenas are being sent, including some powerful people. One subpoena recipient is still unknown.
We’re not entirely sure why he was asking for volunteers to deliver the subpoenas. Likely it’s due to cost, as process servers charge for this service.
The other important note is that one of the subpoenas is to Greg McCabe. We’re not sure why he is being asked via subpoena; we would think he would probably supply the broker information voluntarily. We know he has it, along with John Brda who has discussed the brokers in Space calls. Perhaps it’s just for official documentation needs.
Here’s the list:
1. Gary Gensler, SEC Chairman. 100 F. St. NE, Washington DC 20549. CONTENTS OF SDT: “Electronic Blue Sheets” records for MMTLP that existed on 8 December 2022 at 3:59:59 PM EST. EBS records for Charles Schwab for same time hack and date.
2. Greg McCabe, Next Bridge Hydrocarbons CEO. 6300 Ridglea Place, Suite 950, Ft. Worth TX 76116. CONTENTS OF SDT: Identifying documents of all 105 broker dealers or trading entities that traded MMTLP as of 8 December 2022. Names.
3. Frank LaSalla, DTCC President. 55 Water St., NY NY 10041. CONTENTS OF SDT: Documents showing allotments of all MMTLP long shares totaling 165,000,000 shares to whatever entity recieved shares from DTCC.
4. Martin Flanigan, CEO EQ (formerly AST). 55 Challenger Rd., 2nd Floor, Ridgefield Park NJ 07660. CONTENTS OF SDT: All documents showing the number of shares transferred into Next Bridge Hydrocarbons by MMTLP shareholders and the number of people who have transferred those shares.
5. Kathy Bell, Managing Director, Hilltop Securities, 717 N. Harwood St. Suite 3400 Dallas TX 75201. CONTENTS OF SDT: Data and documents showing Hilltop’s trades in MMTLP to include all longs and short sales as of 8 December 2022 at 3:59:59PM EST.
6. Kenneth Griffin, CEO Citadel Securities LLC, 131 South Dearborn St., Chicago IL 60603. CONTENTS OF SDT: All trade records of “Trade Up” trading entity moving through Citadel as part of payment for order flow agreement with Trade Up for tickers NXBR and TRCH.CNT from 9 December 2022 to the present.
It looks like from a further update, Hilltop Securities and Citadel have both agreed to be served via e-mail.
These subpoenas are great, but of course, just because they are sent out doesn’t mean any information will be received back. Most likely some or all of these will be met with legal challenges.
