NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Fisker Inc. (NYSE: FSR)?
- Did you purchase your shares between August 4, 2023 and November 20, 2023, inclusive?
- Did you lose money in your investment in Fisker Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Fisker Inc. (“Fisker” or the “Company”) (NYSE: FSR) between August 4, 2023 and November 20, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Central District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Fisker securities, and/or would like to discuss your legal rights and options please visit Fisker Inc. Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, Fisker is an electric vehicle company based in California. The Company went public in October 2020 through a reverse merger with a special purpose acquisition company called Spartan Energy Acquisition Corp. The Company has one model currently launched, the Fisker Ocean (the “Ocean”), an electric vehicle released in the United States in June 2023.
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) Fisker had a material weakness in its internal control over financial reporting; (2) Fisker had incorrectly accounted for certain costs; (3) as a result the Company was likely to delay filing its quarterly report; and (4) Fisker’s infrastructure was limiting its ability to deliver its production.
On November 20, 2023, after the market closed, the Company disclosed that its Chief Accounting Officer, who was only hired on November 6, 2023, had provided notice of his intent to resign from the Company on November 14, 2023, effective immediately.
On this news, the Company’s share price fell $0.35, or 15%, to close at $2.00 per share on November 21, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than January 26, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Fisker securities, and/or would like to discuss your legal rights and options please visit Fisker Inc. Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Paralegal
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
