Overview

A class action lawsuit has been filed against Ramaco Resources, Inc., (“Ramaco,” or the “Company”) (NASDAQ : METC) and certain of the Company’s senior executive officers (collectively, “Defendants”) alleging violations of federal securities laws. The Ramaco lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Ramaco securities between July 31, 2025, and October 23, 2025, both dates inclusive (the “Class Period”). Investors have until March 31, 2026, to seek appointment as lead plaintiff of the Ramaco class action lawsuit.

Ramaco engages in the mining, development, and sale of coal and rare earth minerals. Historically, Ramaco delt primarily in coal, but in 2025, the Company pivoted into rare earth minerals. The cornerstone of this pivot was Ramaco’s Brook Mine, located in northern Wyoming.

According to the Company, the Brook Mine contains a rich and unconventional deposit of rare earth elements and critical minerals. Ramaco officially broke ground on the Brook Mine on July 11, 2025, in a heavily publicized ribbon-cutting and groundbreaking ceremony. After breaking ground, the Company repeatedly assured investors the Brook Mine was being actively mined.

The lawsuit alleges Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Defendants had not commenced any significant mining activity at the Brook Mine after groundbreaking; (2) that no active work was taking place at the Brook Mine; (3) that, as a result, the Company overstated development progress at the Brook Mine. Defendants’ misstatements caused shareholders to purchase Ramaco common stock at artificially inflated prices.

The truth was revealed on October 23, 2025, when securities analyst Wolfpack Research published a report alleging, among other things, that Brook Mine is a “hoax” and a “Potemkin Mine” which was not, in fact, mined after its July groundbreaking. The report alleges that the Company “built this mine for show,” and uses drone footage taken three months after the mine’s opening to show that no active work appears to have occurred. The report states that “[d]espite multiple site visits during working hours over several weeks” Wolfpack researchers “never observed … any active work,” adding “[w]e would say that Brook Mine is digging a worthless hole in the ground, but drone footage we have taken weekly reveals that [Ramaco] isn’t even actively digging.” One expert quoted in the report stated: “If you’re trying to pump and dump, you’ve got to be good, you’ve got to be a charlatan. And Randall Atkins [Ramaco’s CEO] is a master manipulator of people and a manipulator of the press.”

On this news, the price of Ramaco’s common stock declined $3.81, or 9.6%, to close at $36.01 per share on October 23, 2025.

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If you purchased or otherwise acquired Ramaco securities between July 31, 2025, and October 23, 2025, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

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

The deadline to apply to the Court to serve as a lead plaintiff in the Ramaco lawsuit is March 31, 2026.