LMP Automotive Holdings, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of LMP Automotive Holdings, Inc. (NASDAQ: LPMX) between June 29, 2021 and May 19, 2022, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than July 26, 2022.

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

Class Period:June 29, 2021 through May 19, 2022
If you purchased LPM securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • the Company engaged in the improper identification and elimination of intercompany transactions;
  • the Company used incorrect estimates for chargeback reserves for finance and insurance products;
  • the Company had misclassified certain items in its financial statements which impacting balance sheet and income statement financial statement captions;
  • there were material weaknesses in LMP’s internal control over financial reporting;
  • as a result of the foregoing, the Company overstated its revenue;
  • as a result of the foregoing, the Company would restate certain of its previously issued financial statements and results; and
  • as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: LMP Automotive Holdings, Inc.
Stock Symbol: LMPX
Class Period: June 29, 2021 through May 19, 2022
Court: United States District Court for the Southern District of Florida

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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.

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

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