| 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 and August 3, 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 August 3, 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:
In August 2024, the Court denied in part and granted in part Defendants’ Motion to Dismiss. On September 20, 2024, Lead Plaintiff filed an Amended Complaint. Defendants filed a Motion to Dismiss the Amended Complaint on December 6, 2024 and the parties are currently briefing this Motion. 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.