Ramaco Resources, Inc. Class Action Lawsuit – METC

Introduction to Ramaco Resources, Inc. (METC) Securities Class Action Lawsuit

A federal securities fraud class action under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 has been filed against Ramaco Resources, Inc. (NASDAQ: METC) for investors who purchased shares on the NASDAQ between July 31, 2025 and October 23, 2025.

Investors allege the company touted active mining and development at its Brook Mine while concealing that no significant mining or active work was actually taking place. The company said mining had commenced and drilling was underway; in reality, according to the complaint, progress was overstated and lacked a reasonable basis, constituting material misstatements and omissions. On October 23, 2025, an investigative report by Wolfpack Research alleged Brook Mine was a "Potemkin Mine" with no observable activity months after its opening. Following this revelation, Ramaco's stock fell sharply, harming investors.

“Most METC shareholders never file or join the class action, which means they miss out on potential recovery funds,” said Attorney Joseph Levi.

Ramaco Resources, Inc. (METC) Securities Lawsuit Case Details

Case Name: Henning v. Ramaco Resources, Inc. et al.
Case No.: 1:26-cv-00846
Jurisdiction: U.S. District Court, Southern District of New York
Filed on: January 30, 2026

Ramaco Resources, Inc. (METC) Company Profile

Ramaco engages in the mining, development, and sale of coal and rare earth minerals, operating in the Coal and Natural Resources industry. Historically focused on metallurgical coal, the company pivoted in 2025 toward rare earths centered on the Brook Mine in northern Wyoming, and is headquartered in Lexington, Kentucky.

Ramaco Resources, Inc. (METC) Securities Lawsuit Class Period

July 31, 2025-October 23, 2025, inclusive.

All persons and entities that purchased or otherwise acquired Ramaco securities during the Class Period, and who were damaged thereby (including purchasers of METC securities), may be eligible to join the Ramaco Resources, Inc. (METC) class action lawsuit. Excluded from the Class are Defendants, the officers and directors of the Company at all relevant times, their immediate families and heirs, and any entity in which Defendants have or had a controlling interest.

Allegations in the Ramaco Resources, Inc. (METC) Securities Class Action Lawsuit

The lawsuit targets Ramaco Resources, Inc., its Founder, Chairman and Chief Executive Officer Randall W. Atkins, and its Chief Financial Officer Jeremy R. Sussman. According to the complaint, they told investors that mining at the Brook Mine had begun and that development activities were progressing, positioning Brook Mine as the centerpiece of Ramaco's 2025 pivot into this line of business and the rare earth minerals sector.

On July 31, 2025, the company issued a press release stating that it had "commenced mining of the Brook Mine in June 2025," and that tonnage was being mined to feed a pilot plant for processing rare earth and critical mineral concentrates into oxides. The same day, the company also declared, "The mine is already permitted and indeed mining has commenced." Then, on September 18, 2025, Atkins wrote to stockholders that Ramaco had launched a fall drilling program at Brook Mine, saying two rigs were operating to complete 15 new holes before winter.

Meanwhile, investors allege that behind these assurances no significant mining activity had occurred after the July groundbreaking on July 11, 2025, meaning no mining operations were underway despite public statements. As a result, the complaint asserts, Ramaco overstated Brook Mine's development progress and failed to disclose material facts about the absence of mining activity, and the company's positive statements about its business, operations, and prospects were materially misleading and lacked a reasonable basis, in violation of Sections 10(b) and 20(a) and Rule 10b-5.

The Truth Emerges

The narrative shifted on October 23, 2025, when Wolfpack Research published an investigative short seller report alleging that Brook Mine was a "hoax" and a "Potemkin Mine." The report stated the mine was not actually mined after its July opening and pointed to drone footage taken three months later showing no visible operations at the site, corroborated by multiple site visits where researchers observed no equipment and no active work.

This disclosure directly contradicted Ramaco's prior statements that mining had commenced and was ongoing, and that drilling rigs were actively operating, exposing the alleged Potemkin facade at Brook Mine. The report's findings undercut the company's portrayal of meaningful development progress at Brook Mine and raised questions about the basis for its earlier claims.

Market Reaction

On the October 23, 2025 disclosure, Ramaco's stock price on the NASDAQ fell $3.81(approximately 10%) to close at $36.01 per share. Trading volume was unusually heavy on October 23, 2025.

Next Steps

The Court will issue its order for lead plaintiff and counsel in the weeks after submissions are due.
The Court will then consider motion for class certification.
The Court will later consider a motion to dismiss.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

I have reviewed a complaint filed in the action.
I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.
I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.
My transaction(s) in Ramaco Resources, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.
Within the last 3 years,
I have not sought to serve nor have I served as a class representative in any federal securities fraud case. I have sought to serve as a class representative in
I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

Clear

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Ramaco Resources, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1