Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Polestar Automotive Holding UK PLC (“Polestar” or “the Company”) (NASDAQ: PSNY) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Polestar investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
This statement is about Polestar, an electric vehicle manufacturer, filing a report with the U.S. Securities and Exchange Commission (SEC) on January 16, 2025. The report, a Form 6-K, revealed that the company had identified errors in its previously reported financial statements. These errors affect the audited financial reports for the years ending December 31, 2022, and December 31, 2023, as well as unaudited financial reports for interim periods between September 30, 2022, and June 30, 2024.
Polestar announced that it would need to restate these financial documents, including the interim financials for the six-month periods ending June 30, 2023, and June 30, 2024.
As a result of this news, Polestar's Class A American Depositary Shares (ADS) experienced a significant drop in value, falling by more than 11% during intraday trading on January 16, 2025. This indicates that investors were concerned about the impact of the restatement on the company’s financial health or credibility.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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