Luminar Technologies, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Luminar Technologies, Inc. (NASDAQ: LAZR) between February 28, 2023 and March 17, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2023.

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

Class Period:February 28, 2023 to March 17, 2023
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 the case:

According to the lawsuit, defendants made false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that:

  • Luminar had misappropriated an image of a competitor’s photonic integrated circuit to market the Company’s own products and capabilities;
  • the foregoing conduct subjected the Company to a heightened risk of, among other things, litigation and/or regulatory enforcement action;
  • all the foregoing, once revealed, was likely to negatively impact Luminar’s business and reputation; and
  • as a result, the Company’s public statements were materially false and misleading at all relevant times.

When the true details entered the market, the lawsuit claims that investors suffered damages.

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Company Name: Luminar Technologies, Inc.
Stock Symbol: LAZR
Class Period: February 28, 2023 to March 17, 2023
Court: Middle District of Florida

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.

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