COMPANY |
Lucid Group, Inc. |
COURT |
United States District Court for the Northern District of California |
CASE NUMBER |
22-cv-02094 |
JUDGE |
The Honorable Araceli Martinez-Olguin |
CLASS PERIOD |
November 15, 2021 - February 28, 2022 |
SECURITY TYPE |
Common Stock |
Case Background:
This class action lawsuit was filed on behalf of those who purchased or acquired Lucid Group, Inc. (“Lucid”) (NASDAQ: LCID) common stock between November 15, 2021, and February 28, 2022, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Lucid’s business and operations. Specifically, Lucid overstated its production capabilities while concealing that “extraordinary supply chain and logistics challenges” were hampering Lucid’s operations from the start of the Class Period. 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.
Current Status of Case:
On February 23, 2023, Defendants filed a Motion to Dismiss the action. This Motion has been fully briefed and awaiting the Court’s ruling. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. 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.