NEW YORK, June 04, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Arcimoto, Inc. (NASDAQ: FUV) between February 14, 2018 and March 22, 2021, inclusive (the “Class Period”).
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=arcimoto-inc&id=2697 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.
如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=arcimoto-inc&id=2697
If you wish to serve as lead plaintiff, you must move the Court before the JUNE 18, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, throughout the Class Period, (1) the preorders of Arcimoto’s 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) Arcimoto’s largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; (4) Arcimoto’s partnership with HULA was an undisclosed related party transaction; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
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New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756