The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Churchill Capital Corp IV for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between January 11, 2021 and February 22, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before August 30, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Lucid Motors (“Lucid”) was not ready to produce vehicles by the spring of 2021. Lucid projected 2021 production of just 557 vehicles, despite the 6,000 vehicle production target touted in the period before its merger with Churchill Capital. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Churchill Capital, investors suffered damages.
The Schall Law Firm
Brian Schall, Esq.,