NEW YORK, March 20, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Terran Orbital, Inc. (“Terran” or the “Company”) (NYSE: LLAP). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Terran and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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In 2021, Legacy TOC and Tailwind Two Acquisition Corp. (“TTAC”) agreed to merge. The merger was affected in 2022. The merger terms dictated, among other things, that Legacy TOC common stock would be exchanged for New TOC common stock at an agreed exchange rate. After registration and issuance on March 25, 2022, New TOC shares started trading on the New York Stock Exchange under ticker symbol “LLAP.” A class action complaint has been filed alleging that the class members did not receive the New TOC shares as provided in the terms of the Merger Agreement nor as represented in the solicitation of their consents to the merger. By the time class members had access and control over their New TOC shares to sell, New TOC had lost almost half its value.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
