OTLY ALERT: Investors with Substantial Losses Have Opportunity to Lead the Oatly Group AB Class Action Lawsuit
SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that buyers of American Depository Shares (“ADSs”) from Oatly Group AB (NASDAQ: OTLY) will be seeking appointment as lead plaintiff in the Oatly class action lawsuit between January 20, 2021. The Oatly class lawsuit charges Oatly and some of its officers and directors with violations of the Securities Exchange Act of 1934. The Oatly class action lawsuit, which was initiated in the Southern District of New York on July 26, 2021, is entitled Jochims v. Oatly Group AB, No. 21-cv-06360.
If you would like to act as the lead plaintiff in the Oatly class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at firstname.lastname@example.org. Lead plaintiffs’ class action lawsuit against Oatly must be filed with the court no later than September 24, 2021.
CASE ALLEGES: The Oatly class action alleges that during the class action period the defendants made false and misleading information and failed to disclose: (i) Oatly overstated its gross margins, revenue, capital expenditures and financial metrics of market share; (ii) Oatly has overstated its sustainability practices and impacts; (iii) Oatly has exaggerated its growth in China; and (iv) as a result, Oatly’s statements about its business, business and prospects during the class action period were misleading.
On July 14, 2021, the short seller Spruce Point Capital Management released a report entitled “Sour on an Oat-lier Investment”. According to the Oatly class action lawsuit, Spruce Point has exposed a number of irregularities at Oatly, including improper accounting practices and greenwashing (which make Oatly’s product appear more sustainable than it actually is). Over the next few days, a variety of media outlets covered the Spruce Point report and its allegations about Oatly. As a result of this news, the price of Oatly ADSs fell almost 9% in two trading days, causing damage to investors.
LEAD ACTION: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Oatly ADSs during the class action period to seek appointment as the lead plaintiff in the Oatly class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all of the other group members in directing the Oatly class action. The lead plaintiff can choose a law firm of their choice to bring the Oatly class action lawsuit. An investor’s ability to participate in a possible future recovery of the Oatly class action lawsuit does not depend on being the lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for getting $ 1.6 billion back for investors last year, more than double the amount paid by any other securities plaintiff firm was drafted. Please visit https://www.rgrdlaw.com/firm.html for more information.
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