NEW YORK, Feb. 2, 2022 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Arrival SA. (“Arrival” or the “Company”) (NASDAQ: ARVL) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Arrival investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class consisting of persons who purchased or otherwise acquired common shares of Arrival stock between November 18, 2020 and November 19, 2021. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/arrival-sa-loss-submission-form?prid=22851&wire=4
ARVL investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the Company would record a substantially greater net loss and adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expense to operate and deploy its microfactories and manufacture EV vehicles than it had disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its disclosed production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines. Accordingly, the Company materially overstated its financial and operational position and/or prospects, and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
WHAT’S NEXT? If you suffered a loss in Arrival during the relevant time frame, you have until February 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
