The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Middle District of Florida on behalf of shareholders of Luminar Technologies, Inc. who purchased securities between February 28, 2023 and March 17, 2023.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Luminar had misappropriated an image of a competitor’s photonic integrated circuit (“PIC”) to market the Company’s own products and capabilities; (ii) the foregoing conduct subjected the Company to a heightened risk of, inter alia, litigation and/or regulatory enforcement action; (iii) all the foregoing, once revealed, was likely to negatively impact Luminar’s business and reputation; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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 July 25, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
