RMO INVESTOR ALERT: Shareholder Class Action Lawsuit Filed | 2021-05-08 | Press Releases

Boston, Massachusetts – (Newsfile Corp. – May 8, 2021) – Thornton law firm advises investors that a class action lawsuit has been filed on behalf of investors by Romeo Power, Inc. (NYSE: RMO). The case is currently in the lead plaintiff stage. Investors who purchased RMO shares or other securities between October 5, 2020 and March 30, 2021 can contact the Thornton law firm’s investor protection team at www.tenlaw.com/cases/RomeoPower for more information receive. Investors can also email investors@tenlaw.com or call 617-531-3917.

More information: www.tenlaw.com/cases/RomeoPower

In the case, it is alleged that Romeo Power and its officers made misleading statements to investors and did not disclose that: (i) Romeo Power only had two battery cell suppliers, not four; (ii) the future potential risks that Defendants had warned of supply disruptions or shortages had already arisen and had a negative impact on the business, operations and prospects of Romeo Power; (iii) Romeo Power did not have the battery cell inventory to meet end-user demand and ramp up production in 2021. (iv) Romeo Power’s supply restriction has been a major impediment to Romeo Power’s sales growth. and (v) Romeo Power’s supply chain for battery cells was unsecured, in fact completely at risk and only committed to two battery cell suppliers and the spot market for their inventory in 2021. It is alleged that given the delivery restriction, Romeo Power did not have a reasonable basis to represent that it was able to meet customer demand and that it would support sales growth in 2021.

Interested Romeo Power investors have until June 15, 2021 to seek advice and apply as lead plaintiff if they are interested. A lead plaintiff is acting on behalf of all other members of the investor class in administering the class action. Investors do not have to be a lead plaintiff to be a class member. If investors fail to take action, they can remain an absent class member. The class has not yet been certified. Investors will not be represented by a lawyer until certification. Thornton law firm is not currently representing a plaintiff who has filed a complaint but is investigating the case on behalf of investors interested in becoming lead plaintiffs.

More information: www.tenlaw.com/cases/RomeoPower

Thornton’s securities attorneys have extensive experience representing investors in recovering damages caused by violations of securities laws. The attorneys have a track record of litigation in securities in courts across the country and in recovering losses on behalf of investors. This can be seen as a lawyer promotion in some countries. Past results do not guarantee or forecast a similar result with respect to future matters.


Law firm Thornton LLP

1 Lincoln Street

State Street Financial Center

Boston, MA 02111


The source version of this press release can be found at https://www.newsfilecorp.com/release/83365

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