BOSTON, May 23, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Microvast Holdings, Inc. (NASDAQ: MVST) for potential securities law violations. Investors who have lost money in their Microvast Holdings, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/mvst.
What is this all about?
After the market closed on May 22, 2023, Reuters reported that the U.S. Department of Energy (DoE) canceled a $200M grant to lithium battery manufacturer, Microvast Holdings, Inc., citing lawmakers’ concerns over the Company’s alleged links the Chinese Communist Party.
Microvast has been in talks with the DoE over the grant to help build a plant in Tennessee to support its work with General Motors developing specialized electric vehicle batteries.
Shares of Microvast Holdings stock dropped 24% in afterhours trading on May 22, 2023, and plunged more than 35% in intraday trading on May 23, 2023.
Who is eligible?
Anyone who purchased Microvast Holdings, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
