Investors Target SPAC's Space Tech Claims After SEC Probe
By Emilie Ruscoe (July 16, 2021, 6:34 PM EDT) -- An investor in special purpose acquisition company Stable Road has launched a proposed class action accusing the company, its brass and a private commercial space company that was to be acquired of misleading the public about the space company's technology and of failing to disclose national security concerns about its chief executive.
In a Thursday suit filed days after the U.S. Securities and Exchange Commission announced settlements totaling more than $8 million with Stable Road, its sponsor and its chief executive, investor Keith Jensen accused the company of failing to admit that in-space tests of Stable Road's acquisition target Momentus Inc.'s...
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