Robbins Geller Rudman & Dowd LLP Announces that AppHarvest, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

SAN DIEGO, CA / ACCESSWIRE / November 19, 2021 / Robbins Geller Rudman & Dowd LLP announces that buyers of AppHarvest, Inc. (NASDAQ: APPH) securities will have an appointment between May 17, 2021 and August 10, 2021, both dates including (the “Class Period”) through Tuesday, November 23, 2021 May petition for the lead plaintiff in Ragan v AppHarvest, Inc., No. 21-cv-07985 (SDNY). The AppHarvest class action lawsuit, which began in the southern borough of New York on September 24, 2021, accuses AppHarvest and some of its top executives of violating the Securities Exchange Act of 1934.

If you are the AppHarvest Class action, Please fill in your information by clicking here. You can also contact a lawyer JC Sanchez from Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Main plaintiff motions for the AppHarvest The class action lawsuit must be filed in court no later than Tuesday, November 23, 2021.

CASE ALLEGATIONS: The AppHarvest class action alleges that during the class action period the defendants made false and misleading statements and failed to disclose: (i) AppHarvest lacked adequate training for its recently expanded workforce; (ii) as a result, AppHarvest was unable to consistently produce Grade 1 tomatoes; (iii) as a result, it would adversely affect AppHarvest’s financial results; and (iv) as such, Defendants’ positive statements about the business, operations and prospects of AppHarvest were materially misleading and / or unfounded.

On August 11, 2021, AppHarvest announced its financial results for the second quarter of 2021, reporting a net loss of $ 32.0 million. AppHarvest also lowered its full-year revenue forecast to a range of $ 7 million to $ 9 million, from $ 20 million to $ 25 million previously. AppHarvest attributed lower-than-expected results to “operational headwinds in ramping up production at the company’s first CEA facility, including labor and productivity challenges related to employee training and development and historically low tomato market prices”. As a result of this news, AppHarvest’s share price fell about 29%, which did harm to investors.

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THE LEAD APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased AppHarvest securities during the class action period to seek appointment as a lead plaintiff in the AppHarvest 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 the other group members in leading the AppHarvest class action. The lead plaintiff can choose a law firm of their choice to bring the AppHarvest class action lawsuit. An investor’s ability to participate in a possible future collection of the AppHarvest class action lawsuit does not depend on whether they are 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 won 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. More information is available at http://www.rgrdlaw.com.

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Contact:

Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
[email protected]

SOURCE: Robbins Geller Rudman & Dowd LLP

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