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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of ELMS, TLS and MP

2022-02-24

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NEW YORK, NY / ACCESSWIRE / February 24, 2022 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ:ELMS) _Class Period:_March 31, 2021 - February 1, 2022 _Lead Plaintiff Deadline:_April 4, 2022

The complaint alleges that throughout the class period Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) ELMS's previously issued financial statements were false and unreliable; (2) ELMS's earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Learn about your recoverable losses in ELMS: https://www.kleinstocklaw.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?id=24031&from=1

Telos Corporation (NASDAQ:TLS) _Class Period:_November 19, 2020 - November 12, 2021 _Lead Plaintiff Deadline:_April 8, 2022

The TLS lawsuit alleges that throughout the class period, Telos Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Transportation Security Administration ("TSA") and Centers for Medicare and Medicaid Services ("CMS") contracts, which constituted a majority of the Company's future revenues, were not on track to commence as represented at the end of 2021 and in 2022; (2) Defendants lacked a reasonable basis and sufficient visibility to provide and affirm the Company's 2021 guidance in the face of the uncertainty surrounding the TSA and CMS contracts; (3) COVID-19- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues; (4) as a result, the guidance provided by Defendants was not in fact "conservative"; (5) as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates; and (6) as a result of the foregoing, Defendants' statements about Telos' business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in TLS: https://www.kleinstocklaw.com/pslra-1/telos-corporation-loss-submission-form?id=24031&from=1

MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (NYSE:MP) _Class Period:_May 1, 2020 - February 2, 2022 _Lead Plaintiff Deadline:_April 25, 2022

The MP lawsuit alleges MP Materials Corp. f/k/a Fortress Value Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose during the class period that: (i) Fortress Value Acquisition Corp. ("FVAC") had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials' management, compliance policies, and Mountain Pass's profitability; (iii) as a result, the Company's future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People's Republic of China to artificially inflate the Company's profits; (v) MP Materials' ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in MP: https://www.kleinstocklaw.com/pslra-1/mp-materials-corp-f-k-a-fortress-value-acquisition-corp-loss-submission-form?id=24031&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: J. Klein, Esq. Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 jk@kleinstocklaw.com Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com

SOURCE : The Klein Law Firm

View source version on accesswire.com: https://www.accesswire.com/690338/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-ELMS-TLS-and-MP