According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Archer Aviation relied on heavily edited videos of earlier flights to exaggerate the amount of flight testing it had actually performed and the sophistication of its eVTOL aircraft;
- Archer Aviation had misrepresented the nature and profitability of its business partnerships;
- Archer Aviation was unlikely to secure FAA certification in the timeframe it had represented to investors, thereby delaying the start of mass production of its aircraft for commercial sales;
- accordingly, Archer Aviation had overstated its financial position and/or prospects;
- all of the foregoing, once revealed, was likely to subject Archer Aviation to significant financial and/or reputational harm; and
- as a result, Archer Aviation’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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