Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Lucid Group, Inc.
This lawsuit is on behalf of a class of all persons and entities who purchased or otherwise acquired Lucid common stock between November 15, 2021, and February 28, 2022, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 31, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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