Luminar Technologies, Inc.

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

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

If you purchased Luminar 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 or around March 17, 2023, various media outlets reported that Lidwave, an Israeli start-up, had accused Luminar of attempting to pass off a Lidwave chip as Luminar’s own technology after Luminar displayed an image of the processor at a recent investor conference, as well as in materials on its website. As a result, Lidwave threatened Luminar with legal action. Luminar subsequently removed the images in question from its investor presentation, website, and a YouTube video.

On this news, Luminar’s stock price fell $0.68 per share, or 8%, to close at $7.80 per share on March 20, 2023, the next trading day.

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Company Name: Luminar Technologies, Inc.
Stock Symbol: LAZR
Class Period: N/A
Court: N/A

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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.

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.

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