According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- (1) Lucid Motors (“Lucid”) was not prepared to deliver vehicles by spring of 2021;
- (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill Capital; and
- (3) 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.
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