The Gross Law Firm notifies investors that a class action has commenced in on behalf of shareholders of Ramaco Resources, Inc. who purchased securities between December 14, 2018 and December 14, 2023.
On December 11, 2023, Wolfpack Research published a report on Ramaco entitled "METC: Pumping and Dumping Nearly Worthless Dirt". Noting that the Company's stock price "recently soared following a Wall Street Journal article that hyped its Brook Mine as a potential source of up to $37 billion in rare earth elements", the report from Wolfpack stated that "[t]here is no way to profitably mine them" and estimated that the Company "would lose ~$88 billion if they were ever able to extract, process and sell $37 billion of REEs from the Brook Mine." The report further asserted that Ramaco "has likely performed" extractability tests and "is sitting on disappointing results." On this news, Ramaco's stock price fell $0.60 per share, or 3.58%, to close at $16.18 per share on December 11, 2023.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 1, 3000 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
