Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Canoo Inc.

NEW YORK, April 8, 2021 (GLOBE NEWSWIRE) – Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Canoo Inc. in the US District Court for the Central District of California. (the “Company” (NASDAQ: GOEV; GOEVW) (“Canoo”) f / k / a Hennessy Capital Acquisition Corp. IV (NASDAQ: HCAC; HCACW; HCACU) (“Hennessy Capital”) on behalf of those who purchased or acquired Canoo Securities between August 18, 2020 and March 29, 2021 inclusive (the “Class Period”).

Any investor who has bought Canoo Inc. stock. and any losses incurred are requested to contact the company immediately classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You can get additional information about the promotion or Join the case on our website, www.whafh.com.

If you suffered losses in Canoo Inc. stock. You may, no later than June 1, 2021, Ask the court to appoint you as the lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Canoo Inc. shares.

CLICK HERE TO JOIN CASE

Canoo was founded in December 2020 through a business combination between Hennessy Capital Acquisition Corp. IV (a Special Purpose Acquisition (SPAC)) and Canoo Holdings Limited. The company is a mobile technology company that develops electric vehicles.

The complaint submitted alleges that the company, before and after the merger, promoted a business model that relied on a three-phase approach to generating sales and growth:

  • a segment for engineering services,
  • the sale of subscriptions for vehicles to consumers and
  • selling vehicles to other companies.

On March 29, 2021, the company announced that it was radically changing its business model by de-emphasizing its engineering services business and no longer focusing on its subscription business.

In response to this news, Canoo fell $ 2.50 per share, or 21.2%, from a close of trading on March 29, 2021, from $ 11.80 per share to $ 9.30 per share on March 30, 2021.

Wolf Haldenstein has extensive experience prosecuting class and derivative disputes in state and federal courts and appeals courts across the country. The firm has lawyers in various fields of activity; and offices in New York, Chicago and San Diego. This firm’s reputation and expertise in shareholder and other class disputes has been recognized repeatedly by the courts who have appointed them to key positions in complex securities multiple district and consolidated litigation.

If you would like to discuss this promotion or if you have any questions about your rights and interests in this case, please contact Wolf Haldenstein immediately at (800) 575-0735, by email at classmember@whafh.com or visit our website on www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, director of case and financial analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel .: (800) 575-0735 or (212) 545-4774

This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.

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