According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- the Company would record a substantially greater net loss and adjusted EBITDA loss in the third quarter of 2021 compared to the third quarter of 2020;
- the Company would experience far greater capital and operational expense to operate and deploy its microfactories and manufacture EV vehicles than it had disclosed;
- the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed;
- the Company would not achieve its disclosed production and sales volumes;
- the Company would not meet the disclosed production rollout deadlines;
- accordingly, the Company materially overstated its financial and operational position and/or prospects; and
- as a result, the Company’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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