COMPANY |
Velodyne Lidar, Inc. |
COURT |
United States District Court for the Northern District of California |
CASE NUMBER |
21-cv-01486 |
JUDGE |
The Honorable Susan Illston |
CLASS PERIOD |
November 9, 2020 - February 19, 2021 |
SECURITY TYPE |
All Securities |
Case Background:
The complaint alleges that throughout the Class Period, the defendants failed to disclose to investors that: (1) certain of Velodyne’s directors had failed to operate with respect, honesty, integrity, and candor in their dealings with Velodyne’s officers and directors; (2) Velodyne was investigating the foregoing matters; and (3) as a result of the foregoing, the defendants’ positive statements about Velodyne’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On July 14, 2023, the Court granted the Motion for Class Certification and certified a class consisting of all Velodyne investors who purchased Velodyne securities between July 2, 2020 and March 17, 2021. This action is in the discovery phase and 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.