Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Romeo Power, Inc.

NEW YORK, April 26, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, announces that a class action lawsuit has been filed on behalf of investors who have bought or acquired the securities of Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO) from October 5, 2020 to March 30, 2021 (the “Class Period”). The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges violations of the Securities Exchange Act of 1934.

If you Romeo Power securities purchased and / or wish to discuss your statutory rights and options Please visit RMO Shareholder Class Action Lawsuit or contact Joseph R. Seidman toll-free at (877) 779-1414 or seiman@bernlieb.com

The complaint alleges that throughout the teaching period, defendants made materially false and / or misleading statements and failed to inform investors that: (i) Romeo Power only had two battery cell suppliers, not four; (ii) the future potential risks that Defendants warned of disruptions or supply shortages had already arisen and had a negative impact on the Company’s business, operations and prospects; (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 battery cell supply line was at risk and only committed to battery cell suppliers and the spot market for their inventory in 2021; and (vi) as a result, Defendants’ positive statements about the Company were materially misleading and / or were inadequate at all relevant times.

In that news, the company’s stock price fell $ 2.04 per share, or 19.7%, to close at $ 8.33 per share on March 31, 2021, hurting investors.

If you want to serve as the lead plaintiff, you must transfer the court by June 15, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.

If you Purchased RMO securities and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/romeopowerinc-rmo-shareholder-class-action-lawsuit-fraud-stock-394/ or contact Joseph R. Seidman free of charge at (877) 779-1414 or seiman@bernlieb.com

Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.

LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.

Contact information

Joseph R. Seidman
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
seiman@bernlieb.com

Comments are closed.