LOS ANGELES, May 07, 2021 (GLOBE NEWSWIRE) —
The Law Offices of Frank R. Cruz
reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to
[email protected]
.
Arcimoto, Inc.
(NASDAQ:
FUV
)
Class Period: February 14, 2018 – March 22, 2021
Lead Plaintiff Deadline:
June 18, 2021
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the preorders of Arcimotos Fun Utility Vehicles (FUVs) were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422; (2) Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall; (3) Arcimotos largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; and (4) Arcimotos partnership with HULA was an undisclosed related party transaction; (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Emergent BioSolutions Inc.
(NYSE:
EBS
)
Class Period: July 6, 2020 – March 31, 2021
Lead Plaintiff Deadline:
June 18, 2021
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Emergent’s Baltimore plant had a history of manufacturing issues increasing the likelihood for massive contaminations; (2) these longstanding contamination risks and quality control issues at Emergent’s facility led to a string of FDA citations; (3) the Company previously had to discard the equivalent of millions of doses of COVID-19 vaccines after workers at the Baltimore plant deviated from manufacturing standards; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Acadia Pharmaceuticals Inc.
(NASDAQ:
ACAD
)
Class Period: June 15, 2020 – April 4, 2021
Lead Plaintiff Deadline:
June 18, 2021
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies; (2) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (3) the FDA was unlikely to approve the pimavanserin sNDA in its present form; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Churchill Capital Corporation IV
(NYSE:
CCIV
)
Class Period: January 11, 2021 – February 22, 2021
Lead Plaintiff Deadline:
June 18, 2021
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (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.
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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to
[email protected]
, or visit our website at
www.frankcruzlaw.com
. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
