The investors of Meta Materials Preferred Shares (MMTLP) have become investigators, calling the Financial Industry Regulatory Authority (FINRA) a fraud while asking for their shares.
BizWatch Nigeria reports that MMTLP investors are yet to receive their Next Bridge Hydrocarbons shares. Previously, Meta Materials (NASDAQ:MMAT) stated that the date of record would be December 12, 2022 with the distribution date being December 14, 2022. Following the distribution, Next Bridge would be an independent public reporting company that would not be tradable.
Through social media, MMTLP shareholders/investors are blaming American Stock Transfer (AST) Financial, the Depository Trust & Clearing Corporation (DTCC), and various brokerages.
Social media especially Twitter has been buzzing with information and questions concerning the missing Next Bridge Hydrocarbons shares. They are meant to have received the common shares however, it is yet to be distributed.
Next Bridge Hydrocarbons
The company promised to distribute shares to the MMTLP investors, saying that “We anticipate that the distribution of NBH common shares will take AST up to two weeks after the December 14, 2022 distribution date.
“If you are a record holder of the MMTLP Series A Preferred Stock on the books of the NBH maintained by AST as of the December 12, 2022 record date. AST will mail statements of holdings to all registered stockholders after the distribution is complete.
Social media reactions
Investors have been chatting on social media searching for answers and methods to recover their shares.
They also tweeted #FINRAfraud calling on other governmental bodies to scrutinize FINRA’s actions and META.
Here are some tweets
🤬🤬🤬 #finrafruad #finrafraud #mmtlp #finracorruption get your heads outta your asses and see what you’re doing to people, humans.. with families..😩🤬
— Klavmachine (@klavmachine21) January 5, 2023
