Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against Churchill Capital Corp IV- CCIV
RADNOR, Pa., June 14, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP reminds Churchill Capital Corp IV (NYSE: CCIV) (“CCIV”) investors that a class action lawsuit has been filed for securities fraud The United States District Court for the Northern District of Alabama against CCIV on behalf of those who have bought or acquired CCIV securities between January 11, 2021 and February 22, 2021, including (the “Class Period”).
KTMC logo (PRNewsfoto / Kessler Topaz Meltzer & Check, LLP)
Deadline of the main plaintiff: July 6, 2021
Contact: James Maro, Esq. (484) 270-1453
Adrienne Bell, Esq. (484) 270-1435
Toll Free (844) 887-9500
CCIV is a blank check company, also known as a Purpose Acquisition Company. Atieva, Inc., d / b / a Lucid Motors (“Lucid”), is an American automotive company specializing in electric vehicles. As of 2020, Lucid’s first car, Lucid Air, is in development.
On Monday, February 22, 2021, the long-awaited merger agreement between CCIV and Lucid was announced. The transaction value of CCIV and Lucid was increased to. estimated $ 11.75 billion. However with 6:22 pm in the same night, Ed Ludlow from Bloomberg News reported that Peter Rawlinson, Lucid’s chief executive officer, announced that production of his debut car will be postponed until at least the second half of 2021 with no definite date set for actual vehicle delivery.
Following the news, CCIV’s share price fell from a closing price of $ 57.37 per share February 22, 2021, over $ 35.21 per share February 23, 2021.
The lawsuit alleges that defendants did not provide a true and accurate picture of the business, operations, and financial condition of CCIV during the class action period.
CCIV investors can register no later than July 6, 2021, seek to be appointed as lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.
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Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
Radnor, PA 19087
(844) 887-9500 (toll free)
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