🚨🚨META MATERIALS BK TRUSTEE FILES CLASS ACTIONS LAWSUIT AGAINST CITADEL, VIRTU AND ANSON FUNDS ALLEGING MARKET MANIPULATION, SPOOFING, NAKED SHORTING🚨🚨
GROK BREAKDOWN...
Class Action Complaint (Doc. 2931) in In re Meta Materials Inc., Case No. 24-50792-gs (Bankr. D. Nev.), filed August 7, 2026. @Metamaterialtec
This is a securities class-action complaint brought by Christina W. Lovato (Chapter 7 Trustee of the bankruptcy estate of Meta Materials Inc.), Meta Materials Inc. itself, and Doug Collins (individually and on behalf of a proposed class). It is filed as an adversary proceeding in the company’s Chapter 7 bankruptcy case in the U.S. Bankruptcy Court for the District of Nevada. A jury trial is demanded.
💥CORE ALLEGATIONS💥
Plaintiffs allege that Defendants engaged in a multi-year scheme of manipulative and illegal trading in Meta Materials (a nanomaterial/nanotechnology company) securities during the Class Period of June 28, 2021, through August 20, 2024. The scheme artificially depressed the stock price, widened the bid-ask spread, increased volatility and transaction costs, and caused investors (and the company/estate) to sell shares at depressed prices or suffer other losses.
💥PRIMARY PRACTICES ALLEGED💥
Spoofing: Submitting large “baiting” (non-bona fide) sell-side or dual-sided orders and quickly canceling them (often within seconds) to create a false impression of excess supply and/or excessive volatility, inducing other market participants to sell at lower prices. Specific timed examples are provided for Citadel (e.g., June 29, 2021; Sept. 1, 2021; Jan. 4, 2022; June 1 & 24, 2022) and Virtu (e.g., Jan. 21, March 1–2, May 17, 2022).
Naked short selling / failures to deliver (violations of Regulation SHO), which further artificially increased apparent supply.
For the Anson Fund Defendants: manipulative short-selling around the company’s securities offerings (“shorting and distorting”), plus related conduct.
Broker-Dealer Defendants (as market makers/gatekeepers) allegedly had duties under federal securities rules to monitor order flow and refrain from facilitating illegal trades, yet submitted massive volumes of spoofing orders that distorted supply/demand perceptions and destroyed investor value. Regulators had previously sanctioned the Defendants for related market-manipulation or short-selling violations (e.g., SEC fines against Citadel totaling tens of millions; Anson settlement in 2024 involving undisclosed coordination with activist short publishers).
💥DEFENDANTS💥
Broker-Dealer Defendants: Citadel Securities LLC and Virtu Americas LLC.
Anson Fund Defendants: Anson Funds Management LP and Anson Advisors, Inc.
💥CAUSES OF ACTION💥
Count I: Violation of Section 10(b) of the Exchange Act and Rule 10b-5 (against all Defendants).
Count II: Violations of Sections 9(a)(2) and 9(e) of the Exchange Act (market manipulation; against Defendants).
Count III: Section 10(b)/Rule 10b-5 under the misappropriation theory (against Anson Fund Defendants).
Count IV: Violations of Section 20A of the Exchange Act (against Anson Fund Defendants).courtlistener.com
💥RELIEF SOUGHT💥
Class certification; compensatory damages (joint and several) in an amount to be proven at trial (plus interest); costs, reasonable attorneys’ fees, and expert fees; and other just and proper relief.
The complaint relies on trading-data analyses, public information, prior regulatory findings, and economic studies on the market-quality harms of spoofing (increased volatility, wider spreads, slower price discovery, lower returns). Plaintiffs assert a presumption of reliance and plead loss causation. Further discovery is expected to yield additional support.
💥COMPLAINT: https://t.co/cAhfgUDJCz
💥AMENDMENT 1: https://t.co/dyURRpHoKX
💥AMENDMENT 2: https://t.co/h2e9jSgS57
MMTLP MMAT TRCH NBH
Spoken like a true politician, completely devoid of the facts. He did not specifically name myself and @palikaras this time, but clearly he has no idea what went on, or worse, he knows and is blatantly lying. His staff (Darcy) had a back channel to the SEC on this and was led to believe by suing George and me, this would all go away. Couldn’t be further from the truth. FOIA’s show differently as we all have seen.
@Informchock bör kanske dra ihop en stor grupp människor som uppfattar en random bank har våra pengar att dom ska ges till oss omedelbart. för om vi uppfattar det som så, ja då är det så. denna gubbens logik alltså
@Tiggersdad2@Manuel0321123 you cant prove that because you dont have all the numbers. you would need access to all kinds of systems where shares, short and naked shorts are being held. there is no full transparency
@Tiggersdad2@Manuel0321123 Havent mentioned bigfoot you idiot.
so if there is no corruption, numbers would be easy to produce to make all suspicion go away.
@Tiggersdad2@Manuel0321123 only those running the system have the actual proof in numbers but those they keep scrubbing. there are alot of insiders, stocks, ceo’s who can confirm corruption. you probably think there is no corruption in politics. but as long as you are making money of it its ok
@MemIngenjoeren@MemIngenjoeren ser tatueringen och vill direkt mucka gräl med snubben? när du ser svensk flagga på buss attackerar du fordonet och föraren också? vad ör det för djungelbeteende?
@jhobson5@DannyRMilligan@toad64mc@The_Great_NDA so why dont we have rape, murder, mobs running aroun in the streets, terrorist acts like running cars over people, all almost daily from the christians? i have all religions but christians are not even close to evil as muslims. and this is a fact