According to the lawsuit, defendants:
- used materially deceptive “risk factor” statements to withhold the truth about problems facing the then-private The Lion Electric Company (“Legacy Lion Electric”), including supply chain problems with its suppliers and sub-suppliers;
- misled Northern Genesis Acquisition Corp.’s (“NGA”) stockholders about Legacy Lion Electric’s prospects using grossly unrealistic financial projections; and
- failed to provide NGA stockholders with the “net cash” value of their shares – the key disclosure about the fundamental purchasing power their NGA shares represented.
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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