Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In HUB To Contact Him Directly To Discuss Their Options
If you purchased securities of HUB Cyber Security Ltd. (NASDAQ: HUBC) (NASDAQ: HUBCZ) (NASDAQ: HUBCW) f/k/a Hub Cyber Security (Israel) Ltd. ("Legacy HUB") pursuant and/or traceable: (a) through Legacy HUB's merger (the "Merger") with Mount Rainier Acquisition Corp. ("Mount Rainier"); (b) to the registration statement and proxy statement/prospectus (collectively, the "Offering Documents") issued in connection with the Merger; and/or traceable to the registration statement and proxy statement/prospectus (collectively, the "Offering Documents") issued in connection with the Merger; and/or (c) between March 23, 2022 and June 13, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/HUBC.
There is no cost or obligation to you.
New York, New York--(Newsfile Corp. - October 16, 2023) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against HUB Cyber Security Ltd. ("HUB" or the "Company") (NASDAQ: HUBC) (NASDAQ: HUBCZ) (NASDAQ: HUBCW) and reminds investors of the October 16, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
According to the lawsuit, the Offering Documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) PIPE financing in connection with the Merger was not committed; (2) HUB would not be led by Legacy HUB's then-current management team, including defendant Moshe; (3) the Company had downplayed the full scope and severity of deficiencies in its compliance controls and procedures, including its disclosure controls and procedures and internal controls over financial reporting; (4) the Company overstated its remediation of, and/or ability to remediate, the foregoing deficiencies; (5) accordingly, the Company had hundreds of thousands of dollars of unexplained expenses incurred, and/or funds misappropriated or otherwise fraudulently obtained, by a senior officer of the Company; (6) the foregoing increased the risk that the Company would be unable to timely file one or more of its periodic financial reports with the SEC, as required by the NASDAQ's listing rules; (7) as a result, the Company was also at an increased risk of being delisted from the NASDAQ; (8) all the foregoing, once revealed, was likely to negatively impact the Company's business, financial results, and reputation; and (9) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of all other members of the putative class (yet to be defined and certified by the Court). Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding HUB's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183962
