Churchill Capital Corp IV Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Churchill Capital Corporation IV (“CCIV”) (NYSE: CCIV) d/b/a Lucid Motors (“Lucid”) (NASDAQ: LCID) securities between February 5, 2021 and February 22, 2021, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) while CCIV was negotiating an acquisition of Lucid, that Lucid’s factory was not already build; (2) further, that Lucid would not be ready to start production in Spring 2021 despite claims to the contrary; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On January 11, 2023, the Court granted Defendants’ Motion to Dismiss. On July 28, 2023, Lead Plaintiffs filed a Notice of Appeal to the 9th Circuit Court of Appeals, and on August 8, 2024, the Appeals Court affirmed the Trial Court’s dismissal. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.