Dominican OG

[George Palikaras @palikaras]

Document 2931.

On August 7, the Chapter 7 Trustee for Meta Materials filed a 62-page adversary complaint against Citadel Securities, Virtu Americas, and the Anson funds. I have now read it three times, along with both exhibits.

It is a huge contribution to the record and it includes five unprecedented items. It is not a cheque.

Here is my honest assessment and thoughts, what is actually new and who should care, not legal advice.

To get my message across to the market “experts” who will be quick to respond to this thread… I will be REPEATING some complex findings/arguments in multiple ways and tone (with potentially some cynical commentary)… this will NOT be brief, I am not your friend or your employer… you will need to read it all and do your research to address me, or quit and consider your life choices such as for selling your souls to those who use you as mouthpieces to spread your cancer in public (posts and spaces) while using fake or anonymous accounts that your purge every time you get told to rinse and repeat.

Case: Christina W. Lovato, as Chapter 7 Trustee of the Bankruptcy Estate of Meta Materials Inc.; and Doug Collins, individually and on behalf of all others similarly situated v. Citadel Securities LLC, Virtu Americas LLC, Anson Funds Management LP, and Anson Advisors, Inc.

Forum: United States Bankruptcy Court, District of Nevada, adversary proceeding in In re Meta Materials Inc., Case No. 24-50792-gs (Chapter 7)

Filed: August 7, 2026 — Doc. 2931, entered 10:40:58

Class period: June 28, 2021 through August 20, 2024

———————-/

At the highest level:
a Chapter 7 trustee, a fiduciary with subpoena power under Rule 2004, with a statutory duty to investigate claims against former officers and directors, and EVERY economic incentive to find them, has told a federal court under Rule 11 that Meta Materials was a real company destroyed by third-party manipulation.

Paragraph ¶30 recites the $160 million and debt-free balance sheet without qualification. Paragraph ¶57 pleads “a steady stream of positive news.” paragraph 57 and the following paragraphs, treat Nanotech, the central bank contract, and the strategic acquisitions as genuine value. Nothing in the pleading alleges issuer misconduct.

The Trustee had two years and full access to the books, and she sued Citadel, Virtu and Anson. That is a materially different narrative what we have seen to date.

[JunkSavvy @JunkSavvy]

@cvpayne, you might want to cover this one. It's a bit different...MetaMaterials' BK Trustee joins shareholders in class action lawsuit against Citadel, VIRTU and Anson Funds, AFTER 2004 investigation. Get your🍿🍿🍿ready!!!

@palikaras @JWesChristian would be fantastic interviews!!!

Thank you for your support of The MMTLP Army. You were there for us on Day 3...vindication coming!!!

MMTLP MMAT TRCH NBH

[KKep @kimkep4796]

🚨⚖️ META MATERIALS — THIS ONE IS BIG ⚖️🚨
📄 Docket No. 2931 | Filed August 7, 2026
⚠️ Allegations only—not yet proven. Not legal advice.

🔥 TRUSTEE-LED FEDERAL SECURITIES CLASS ACTION

This is not merely an individual shareholder lawsuit. Meta Materials, through Chapter 7 Trustee Christina Lovato, is a lead plaintiff, together with shareholder Doug Collins.

The Trustee is suing on behalf of the Meta Materials bankruptcy estate and a proposed class of investors who traded Meta securities between June 28, 2021 and August 20, 2024. Any estate recovery would become bankruptcy-estate property.

🎯 DEFENDANTS

Citadel Securities LLC
Virtu Americas LLC
Anson Funds Management LP
Anson Advisors, Inc.

💣 MAJOR ALLEGATIONS

The complaint alleges:

Market manipulation and spoofing
Illegal and/or abusive naked short selling
“Short and distort” trading
Artificially depressing MMAT’s share price
Widening bid-ask spreads and increasing investors’ costs
Anson trading with alleged material nonpublic information

“This fraudulent scheme…enriched Defendants while devastating Plaintiffs and investors.”

“Innocent market participants…[were left] holding the bag.”

📊 STAGGERING NUMBERS

According to the complaint:

44,002 alleged baiting orders
At least 42,058,275 shares
21,092 alleged spoofing episodes
Activity on 730 of 792 trading days—approximately 92%
Citadel: 17,983 alleged episodes, up to 311 in one day
Virtu: up to 101 in one day
39 trading days allegedly saw spoofing accompanied by price declines exceeding 10%

“Defendants’ manipulative trading was profound and pervasive.”

🔎 ANSON ALLEGATIONS

The complaint alleges Anson received confidential notice of Meta’s April 2023 offering after being “brought over the wall,” and then:

Shorted 1,252,570 shares at approximately $0.51
Purchased 17,333,335 shares directly from Meta at $0.30
Received 17,333,335 warrants
Bought approximately 20.8% of the offering
Closed its earlier short using the identical share amount
Later covered 5,269,484 short shares during the window that allegedly reset its warrants to a $0.076 floor

“And this is exactly what the Anson Fund Defendants did.”

⚖️ FOUR CIVIL CLAIMS

These are civil claims—not criminal charges:

Section 10(b) and Rule 10b-5: Securities fraud and market manipulation against all defendants
Sections 9(a)(2) and 9(e): Manipulative trading against all defendants
Section 10(b): Insider trading under the misappropriation theory against Anson
Section 20A: Contemporaneous insider-trading liability against Anson

💰 DAMAGES

The complaint does not yet state a final loss amount. It seeks:

Compensatory damages jointly and severally
Disgorgement of Anson’s alleged profits or losses avoided
Interest, attorneys’ fees and expert costs
A jury trial

Damages will be determined through expert analysis and proven at trial.

🚨 BOTTOM LINE

The Chapter 7 Trustee has placed the Meta Materials bankruptcy estate at the center of a proposed federal securities class action against Citadel, Virtu and Anson.

The Trustee alleges that MMAT investors—and Meta itself, when it issued and sold securities into an allegedly manipulated market—were directly harmed by trading misconduct occurring on approximately 92% of the trading days examined.

https://t.co/Tw3AejTrIP

https://t.co/P8RNj6vRFO

https://t.co/yDQR85McgQ

[CPLANT @TheTrndisuFrnd]

In reply to my old friend @ggkoul

We have several options that are yet to be played!!! Trade Station is about to step into a shithole that they can’t get out of. It’s a done deal so they should come to the table immediately and visit with their priest. Criminal is Criminal-and there is no way out for them because they have already admitted to the crime. With the release of the bulk certificates we know that they are trapped. They have no way out. HARD STOP!!! their counterparty that owes them shares is also trapped and both of these criminals need to go to jail. They had ample time to come and buy shares and they elected not to so HELL HATH NO FURY ON THEM FROM THIS POINT FORWARD. WE WIIL BE COMING FOR THEM AND WE MAY NEED HELP FROM THE ARMY!! This has been a very heavy load to carry for the past few years but we are so close to breaking this damn DAM THAT WE CAN’T STOP NOW AND WE WILL NOT UNTIL WE WIN!!!! There is one thing about Entrepreneurs that people don’t understand LOSING IS NOT AN OPTION WE DON’T HAVE A BACKUP PLAN AFTER ALL IS GONE. WE HAVE A PLAN A B & C but none include losing!!!! WE WILL FIGHT AND WE WILL WIN!!! WE NEED THE FEDERAL GOVERNMENT TO DO THEIR JOB AND PROTECT THE CITIZENS AND THEIR INVESTMENTS AND RETIREMENT FUNDS AS THEY CLAIM TO DO!!!! @annvandersteel @realDonaldTrump @JDVance @SECGov @SECGov @TBLF_LawFirm @SecKennedy @DOJFraudDiv @SecretService @FBIDirectorKash CAN JUST ONE OF YOU RESPOND THAT YOU RECEIVED THIS AND YOU WILL DO SOMETHING. OUR ARMY HAS SPENT THE PAST 3-1/2 YEARS TRYING TO GET SOMEONE IN THE FEDERAL GOVERNMENT TO DO THAT WE ARE ALL PAYING RIDICULOUS TAXES FOR. DO UR FING JOB JUST LIKE OUR POTUS STATED THIS MORNING ON FOX THIS MORNING I NEED SOMEONE TO F SOME SHIT UP AN DEAL WITH THIS ISSUE AND QUIT KICKING THIS CAN. WE ARE NOT GOING AWAY!!

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Releases Share Registration Data

https://t.co/FfsvA3rRnY

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Provides Guidance Regarding Dividend Share Distributions

https://t.co/QzGxDbPAcb

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Releases Latest Correspondence Attempt with SEC Officials
https://t.co/pQoTpRd9vC

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Provides Update Regarding Trading 212

https://t.co/F2Jg5r6L62

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Answers Frequently Asked Questions Regarding the Upcoming Special Dividend of Common Stock

https://t.co/E45wqhwNua

[JunkSavvy @JunkSavvy]

🚨NEXT BRIDGE HYDROCARBONS RELEASES FAQ REGARDING RECENT ANNOUNCEMENT OF A 1:30 STOCK DIVIDEND TO SHAREHOLDERS OF RECORD AS OF EOB JULY 8, 2026. SHARES WILL BE DISTRIBUTED JULY 22, 2026.

💥NEXT BRIDGE ISSUES WARNING REGARDING "PHANTOM SHARES" OR SHARES NOT BACKED BY CERTIFICATES:

QUESTION: How do I know if the dividend shares I receive are "real" or not, I have heard there are uncovered short positions and "phantom" shares out there?
"Dividend shares will be distributed on the basis of one share for every thirty shares held (1 for 30).  This calculation will be based on shares held at the close of business on July 8, 2026 (the record date).  Only shares registered in a "bulk certificate" thru a brokerage firm and those registered directly at EQ, in digital or certificate form, would qualify for this dividend.  The crediting of "phantom" stock shares to customer accounts that are not actually backed by certificate registrations would be a violation of applicable securities laws as well as a violation of fiduciary and custodial responsibility."

⁉️Which "violations of applicable securities laws" might be at play???
GROK: https://t.co/QggcD8pCJU
MMTLP MMAT TRCH NBH

[KKep @kimkep4796]

MMAT | MMTLP | NBH | TRCH

Case: In re Meta Materials Inc.
Case No.: 24-50792-gs (Chapter 7)
Court: U.S. Bankruptcy Court, District of Nevada
Filing: Doc. 2887 –
Stipulated Protective ORDER
Relating to Subpoenas to Citadel, Anson Funds, and Virtu
Filed: June 25, 2026

⚠️ Not Legal Advice

Layman’s Summary

This filing does not limit the Trustee’s ability to obtain documents. Instead, it establishes rules for handling sensitive information that Citadel, Anson, and Virtu produce in response to the court-approved subpoenas.

The firms may label documents:
•CONFIDENTIAL
•HIGHLY CONFIDENTIAL – ATTORNEYS’ EYES ONLY

These labels are intended for proprietary trading data, order-routing information, trading strategies, customer identities, and other sensitive business records.
The produced materials may only be used in the Meta Materials bankruptcy case and any related adversary proceeding brought by the Trustee. They cannot be used for other lawsuits, investigations, or business purposes.
Access is tightly restricted. The most sensitive material may only be viewed by:
The Trustee,
Court-approved attorneys,
Approved experts and litigation support personnel who sign confidentiality agreements.
One notable provision states:
“No DESIGNATED MATERIAL… shall be submitted to any generative artificial intelligence platform” unless it is a secure, non-public system meeting strict security requirements. ❗️

Why It Matters

This is a procedural milestone, not a ruling on the merits. It means the parties have agreed on the confidentiality rules so that production of subpoenaed trading records can proceed while protecting proprietary information. It is generally a sign that discovery is moving forward under the framework ordered by the court.

https://t.co/AN31jdXMe9

[JunkSavvy @JunkSavvy]

🚨NEXT BRIDGE HYDROCARBONS FILES "PROSPECTUS SUPPLEMENT NO 1." TO ITS S-1 SHARE OFFERING TO ACCREDITED INVESTORS, ANNOUNCING 1:30 STOCK DIVIDEND TO SHAREHOLDERS OF RECORD AS OF EOB JULY 28, 2026. SHARES WILL BE ISSUED JULY 22, 2026.
"On June 23, 2026, the board of directors of Next Bridge Hydrocarbons, Inc. declared a dividend whereby each registered holder of Common Stock on the record date will receive 1 share of Common Stock for every 30 shares of Common Stock held, including fractional shares of Common Stock, as applicable (the “Stock Dividend”). The dividend is payable to shareholders of record as of the close of business on July 8, 2026 (the “Record Date”), and will be issued on July 22, 2026. As of today’s date, and prior to the Stock Dividend, there are 264,637,564 shares of Common Stock outstanding. After the Stock Dividend and without giving effect to any shares issued pursuant to the Prospectus there will be approximately 273,458,816 shares of Common Stock outstanding. All share and per-share amounts in the Prospectus should be read giving effect to the Stock Dividend. In the event the 40,000,000 shares of Common Stock being offered pursuant to the Prospectus are issued before the Record Date, there will be 304,637,564 shares of Common Stock eligible to receive the Stock Dividend. Therefore, after the Stock Dividend, there will be approximately 314,792,150 shares of Common Stock outstanding."
@nbhydrocarbons
MMTLP MMAT TRCH NBH
https://t.co/saYjZzL4bs

[Kurtis @bleedblue18]

$MMTLP Imagine using your big brain to create a system for comprehensive regulatory oversight (Consolidated Audit Trail aka CAT) in your time at the SEC only to leave for a major payday at Citadel Securities and try to dismantle the same CAT.

Imagine serving on FINRA’s Economics Committee, the CAT Advisory Committee, and on the Advisory Board of the Financial Information Forum.

Imagine using that influence to discuss a small, non-trading company’s (Next Bridge Hydrocarbons) pending registration statement and how to dissuade/steer it with other prominent FIF members and the SEC.

Imagine being tone deaf enough to include “market integrity” in your job description as Director of Market Analytics and Regulatory Structure for CITADEL.

Imagine the same firm having to respond in Federal Bankruptcy court to subpoenas.

Just imagine…

[KKep @kimkep4796]

Bill Pulte will be IN as Acting DNI.

[KKep @kimkep4796]

🚨MMAT / MMTLP / TRCH

📄 DTCC Delay Timeline - a closer 👀

⚖️June 16, 2026 - Hearing Before Judge Gary Spraker

⚠️Not Legal Advice

The Trustee’s June 11 filing paints a clear picture:

DTCC has been delaying production for more than a year while statute-of-limitations deadlines continue to approach. ⏰

📅 Key Timeline

🔵March 2025

Trustee serves Rule 2004 subpoena on DTCC.
Production due April 8, 2025. ⬅️⬅️⬅️

🔵March 26, 2025

DTCC acknowledges subpoena.
Requests extension and protective order.

🔵April 7, 2025

Trustee grants DTCC a two-week extension.

🔵June 16, 2025

DTCC states it can provide:

•Participant Daily Activity Statements
•CNS Reports
•UTC Reports (including Correspondent Clearing Data)

for approximately $25,200. 💵

⸻

🚩 October 2025 – Frustration Boils Over 🔥

🔵October 21, 2025

Trustee counsel David Burnett warns:

“If we don’t hear from you this week we plan to file a motion to compel.” 🔥

Later the same day, Burnett responds to DTCC:

“You are the one that has not responded to our questions for four months or given edits or comments on the protective order for five months.” 💥

DTCC responds that production would occur only under an:

“appropriately scoped Rule 2004 subpoena”

and continues to reserve objections.

⸻

🔵November 4, 2025

Burnett follows up again:

“Please provide us the courtesy of a substantive, timely, and constructive response.”

and warns:

“If you continue to delay we will enforce our rights with the court.”

⸻

📅 March 26, 2026

DTCC finally makes a partial production.

However, Trustee says the critical transaction-level Correspondent Clearing Data was missing. ⁉️

⸻

📅 April–May 2026

🔵April 24

Trustee requests missing Correspondent Clearing Data.

🔵May 5

Another follow-up. Still unresolved.

🔵May 12

🚨Burnett warns:

“Because of the time-sensitivity on our end and this dragged-out process, the Trustee is prepared to move to compel.”

🔵May 21

DTCC responds:

IT team is still working on the report and having difficulty with aged data.

🔵May 26

Burnett replies:

“We would like to get the additional data as soon as possible given time-sensitivities on our end.��� ⏰

⸻

🔥 Key Statements From Burnett’s Declaration

📆Over One Year of Delay

“I have been corresponding with DTCC’s in-house counsel… for over a year.”

➡️More Than 40 Emails

“I have sent more than 40 emails to Ms. Bandler since spring 2025.”

➡️Weeks Between Responses

“Ms. Bandler did not respond to some of my emails, and in some cases she did not respond for weeks.” 🌶️

➡️Statute Concerns

“Statute of limitations deadlines make DTCC’s immediate production of the remaining discovery very time-sensitive.”

⸻

⚖️ What To POSSIBLY Expect Tuesday ⚠️NLA

Judge Spraker will likely focus on:

What specific data remains missing?
Can DTCC actually produce it?
How long will production take?
How do the statute-of-limitations deadlines impact the estate?

The Trustee’s filing appears designed to show:

✅ Subpoena issued March 2025
✅ Extension granted
✅ Protective order negotiations
✅ 40+ emails
✅ Partial production only
✅ Missing Correspondent Clearing Data
✅ Statute concerns repeatedly raised

If DTCC arrives without a firm production timetable, Spraker may push for specific deadlines, status reporting, or a path toward a motion to compel. The filing strongly suggests the Trustee is documenting a year-long pattern of delay and connecting it directly to potential claim deadlines.
⏰⏰⏰⏰⏰⏰⏰⏰⏰⏰⏰⏰⏰⏰

[KKep @kimkep4796]

📌 MMAT | MMTLP | TRCH
Meta Materials Inc. Bankruptcy
Case No. 24-50792-gs (Chapter 7)
Document No. 2870
Filed: June 12, 2026

⚖️ Summary:
Judge Gary Spraker granted the Trustee’s request for shortened time, allowing an expedited hearing regarding DTCC subpoena compliance and protective order administration. The order does not decide the DTCC dispute itself—it simply puts the matter before the Court on an accelerated schedule.

🚨 HEARING SCHEDULED:
📅 June 16, 2026 💥
🕤 9:30 AM PT
💻 Remote Zoom Hearing

⚠️ Not Legal Advice. For informational and entertainment purposes only.

[KKep @kimkep4796]

🔥 MMAT Update – June 11, 2026

📄 Docket Nos. 2863, 2864, 2865 & 2866

What happened?

Trustee Christina Lovato filed a series of motions asking Judge Spraker to schedule an expedited status conference regarding DTCC’s subpoena compliance and production delays.

⸻
🎯 The Main Issue

The Trustee says DTCC still has not fully produced certain subpoenaed records, particularly transaction-level Correspondent Clearing Data that has been requested since 2025.

According to Trustee counsel David Burnett:

“That data is very important to our analysis.”

In simple terms, this appears to be data that could help identify who was actually involved in specific trades, not just trading totals.

⸻
⏰ Why The Rush?

This is the biggest takeaway.

The Trustee specifically warned the Court that continued delays could impact potential claims because of statute-of-limitations deadlines.

Burnett also stated:

“Statute of limitations deadlines make DTCC’s immediate production … very time-sensitive.”

🚨 That’s strong language coming directly from Trustee counsel.

⸻
📬 What’s Next?

At this point:

✅ DTCC has not filed a Motion to Quash

✅ Trustee has not filed a Motion to Compel

✅ Trustee wants Judge Spraker to step in and hold a focused conference to address DTCC’s outstanding production and determine next steps.

⸻
👀 What Stands Out

The repeated focus on:

🔹 Correspondent Clearing Data
🔹 Transaction-level records
🔹 Time-sensitive discovery
🔹 Statute-of-limitations concerns

suggests the Trustee believes this remaining DTCC data is important to the ongoing investigation.

📌 Bottom Line: The investigation appears very much alive, DTCC remains an active discovery target, and the Trustee is pushing for answers sooner rather than later.

⚖️ Not Legal Advice • For Discussion & Entertainment Purposes Only ⚖️

https://t.co/4N7vgqGBS3

https://t.co/XEoa0CuDNr

https://t.co/JK04WzlxRq

[Pulte @pulte]

Audit the @The_DTCC

[Next Bridge Hydrocarbons @nbhydrocarbons]

Next Bridge Hydrocarbons Announces SEC Declares Effective its S-1 Registration Statement

Company prices and commences a public offering of 40 million shares

https://t.co/2hO7KuPeJJ

[JunkSavvy @JunkSavvy]

🚨NEXT BRIDGE HYDROCARBONS RELEASES PR ANNOUNCING THE EFFECTIVENESS AND AVAILABILITY OF UP TO 40 MILLIONS SHARES OF NBH COMMON SHARES @ $15/SH.
MMTLP MMAT TRCH NBH
@nbhydrocarbons
https://t.co/df52HGhBtS