Defendant Name:
Momentus, Inc.
Defendant Type:
Other
Document Reference:
33-10955
Document Details
Legal Case Name
In the Matter of Momentus, Inc., Stable Road Acquisition Corp., SRC-NI Holdings, LLC, and Brian Kabot
Document Name
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
13-Jul-2021
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Additional Undertakings: the creation of "a permanent committee of its Board of Directors, composed exclusively of independent directors with no compliance history, responsible for overseeing: (i) the implementation of the terms of this Order and (ii) controls governing Momentus’s and its management’s public statements regarding Momentus, including but not limited to the creation of a disclosure committee of the Board."; offering to each PIPE investor who entered into a subscription agreement with SRAC on or about October 7, 2020, the right to terminate such subscription agreement
Cooperation Before the Resolution
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$7,000,000.00
Shared:
Other Defendants in Action:
