Hesai Group

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Hesai Group (NASDAQ: HSAI) resulting from allegations that Hesai may have issued materially misleading business information to the investing public.

If you purchased Hesai securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Hesai securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On March 16, 2023, Hesai announced in a press release its unaudited financial results for the three months and full year ended December 31, 2022. The Company failed to disclose in the Restatement that in their fourth quarter ended December 31, 2022 (“4Q2022”), the last completed quarter before the Company’s initial public offering (“IPO”), there was “lower in-house plant capacity utilization rate”, which caused the increased shipments of lower-margin advanced driver assistance systems (“ADAS”) and light detection and ranging (“LiDAR”) products. Loss from operations widened by 84.9% in 4Q2022 compared to their fourth quarter ended in December 31, 2021.

On this news, Hesai’s share price fell $1.55, or 10.17%, to close at $13.69 per share on March 16, 2023.

Follow us on:
Company Name: Hesai Group
Stock Symbol: HSAI
Class Period: N/A
Court: N/A

Why Rosen Law

The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

Scroll to Top