Lucid Group, Inc. The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Lucid Group, Inc. who purchased LCID common stock between November 15, 2021 and February 28, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Lucid’s business and operations. Specifically, the Company overstated its production capabilities while concealing that “extraordinary supply chain and logistics challenges” were hampering Lucid’s operations. As a result of the defendants’ wrongful acts and omissions, and the significant decline in the market value of Lucid’s common stock, Lucid investors have suffered significant damages.
“Lucid Group, Inc.”
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 May 31, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.