Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Churchill Capital Corp IV. The class action is on behalf of shareholders who purchased Sequential Brands between January 11, 2021 and February 22, 2021, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than June 18, 2021.
Churchill Capital is a special purpose acquisition company. Lucid Motors (“Lucid”) is an American automotive company specializing in electric cars. On Monday, February 22, 2021, a merger agreement between Churchill Capital and Lucid was announced.
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (1) Lucid Motors (“Lucid”) was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill Capital; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the Churchill Capital class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Churchill Capital class-action lawsuit. An investor’s ability to share any potential future recovery of the Churchill Capital class action lawsuit is not dependent upon serving as lead plaintiff.
If you are a Churchill Capital shareholder and have losses greater than $250,000 and are interested in learning more about being a lead plaintiff, please contact Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471