Press release
Investigation announced for Investors in shares of Lightning eMotors, Inc. (NYSE: ZEV)
An investigation for investors in Lightning eMotors, Inc. (NYSE: ZEV) shares over potential securities laws violations.
Investors who purchased shares of Lightning eMotors, Inc. (NYSE: ZEV), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Lightning eMotors, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Loveland, CO based Lightning eMotors, Inc. designs, manufactures, and sells electric vehicles.
In December Lightning eMotors, Inc. has agreed to go public through a reverse merger with GigCapital3 Inc., a SPAC which is a blank-check company. The deal generated gross proceeds of $125 million and gives Lightning Lightning eMotors, Inc a pro-forma equity valuation of around $823 million
On August 16, 2021, after the market closed, Lightning eMotors announced its second quarter 2021 financial results, reporting a net loss of $46.1 million, compared to a net loss of $2.8 million during the prior-year period. The Company also withdrew its fiscal 2021 guidance, stating that it "no longer expects to meet full year guidance" citing among other things "chassis production disruptions."
Shares of Lightning eMotors, Inc. (NYSE: ZEV) declined from $17.25 per share on January 15, 2021, to as low as $7.20 per share on August 25, 2021.
Those who purchased shares of Lightning eMotors, Inc. (NYSE: ZEV) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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