According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that:
- there was a reasonable likelihood that Microvast would not be awarded a United States Department of Energy Grant (the “Grant”) after due diligence was performed;
- negotiations had ceased and the Grant rescinded;
- Microvast misrepresented the nature and profitability of its businesses and partnerships; and
- as a result of the foregoing, defendants’ positive statements about Microvast’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.
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