ROMEO POWER SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Romeo Power, Inc. – RMO
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up June 15, 2021 Lead plaintiffs in class action lawsuit against Romeo Power, Inc. (NYSE: RMO) v RMG Acquisition Corp. (NYSE: RMG) if you purchased the Company’s securities between October 5, 2020 and March 30, 2021, inclusive (the “Class Period”). This lawsuit is pending in the US District Court for the Southern District of New York.
What you can do
If you have purchased securities from Romeo Power or RMG Acquisition and would like to discuss your statutory rights and the possible effects of this case on you and your right to reimbursement of your economic loss, you can contact KSF Managing Partner Lewis Kahn free of charge at 1 -877-515-1850 or by email (firstname.lastname@example.org) or at https://www.ksfcounsel.com/cases/nyse-rmo/ to find out more. To appear as the lead plaintiff in this class action lawsuit, you must file a motion with the court June 15, 2021.
About the lawsuit
Romeo Power and some of its executives are accused of failing to disclose material information during the classroom, in violation of federal securities laws.
On December 29, 2020, Romeo announced the completion of its business combination with RMG and began trading its common stock and warrants on the NYSE under the new ticker symbols “RMO” and “RMO.WT” the next day. Then, on March 30, 2021, after it was launched, the company shocked investors when it announced its financial results for the quarter and fiscal year ended December 31, 2020 and estimated earnings for 2021 would be reduced by approximately 71-87%.
In that news, Romeo’s shares fell nearly 20% from a closing price of $ 10.37 per share on March 30, 2021 to $ 8.33 per share on March 31, 2021.
The case is Nichols v Romeo Power, Inc., No. 21-cv-03362.
About Kahn Swick & Foti, LLC
KSF, partnered with former Louisiana Attorney General Charles C. Foti Jr., is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.