Case Summary

Next Bridge Hydrocarbons

Other

Case Details

  • Targgart v. Next Bridge Hydrocarbons, Inc. et al.
  • Class Period:December 14, 2022 - March 15, 2024
  • Date Filed:March 15, 2024
  • Jurisdiction:U.S. District Court, Eastern District of New York
  • Docket Number: 1:24-cv-01927
  • Lead Plaintiff Deadline: May 14, 2024
Days Left to
Seek Plaintiff
21

Overview

A class action lawsuit has been filed against Next Bridge Hydrocarbons, Inc (“Next Bridge” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934.  The Next Bridge lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired shares of Next Bridge in connection with the Company’s spin-off from Meta Materials, Inc. on or around December 14, 2022.  PLEASE NOTE: Next Bridge has not obtained a CUSIP number for its shares, there is no uniform way to identify Next Bridge common stock, and investors have until May 14, 2024 to seek appointment as lead plaintiff of the Next Bridge class action lawsuit.

Next Bridge describes itself as an energy company engaged in the development of oil and gas properties in the United States.  It was incorporated in the State of Nevada on August 31, 2021 and operated as a subsidiary of Meta Materials prior to the Spin-Off.  Subsequent to the Spin-Off, Next Bridge started to operate independently from Meta Materials.

The lawsuit alleges that Next Bridge filed a registration statement in connection with its spin-off from Meta Materials that contained false and/or materially misleading statements.  The statements at issue concern the value of the Company’s oil and gas assets and Next Bridge’s transactions with related parties.  The lawsuit alleges that these false and/or materially misleading statements violated the Securities Act of 1933 and, consequently, damaged shareholders who received Next Bridge shares in conjunction with the spin-off.

*          *          *

If you purchased or otherwise acquired shares of Next Bridge in connection with the Company’s spin-off from Meta Materials, Inc. on or around December 14, 2022, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

Join This Action

Name(Required)
Address(Required)
Are you a current or former employee at the company?(Required)

Purchases

Purchases Buy Date Quantity Purchase Price per share or security Actions
       

Sales

Sale Type Sale Date Quantity Sale Price per share or security Actions
       

Upload Documents

Drop files here or
Accepted file types: xls, xlsx, doc, pdf, jpg, jpeg, Max. file size: 50 MB, Max. files: 5.