Churchill Capital is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you incurred a loss on CCIV stocks purchased between January 11, 2021 and February 22, 2021, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Northern District of Alabama, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until June 18, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Fill out the form below to be contacted by a representative of Jakubowitz Law.