Rosen Law Firm Files Securities Class Action Lawsuit Against Arcimoto Inc. – FUV | Business
NEW YORK – (BUSINESS WIRE) – April 19, 2021–
Law firm Rosen, a global investor rights law firm, announced that it filed a class action lawsuit on behalf of the purchasers of the securities of Arcimoto Inc. (NASDAQ: FUV) between February 14, 2018 and March 22, 2021 inclusive. the “class period”). The lawsuit aims to seek compensation for Arcimoto investors in accordance with federal securities laws.
To participate in the Arcimoto class action, go to http://www.rosenlegal.com/cases-register-2064.html or call Phillip Kim, Esq. toll free at 866-767-3653 or email [email protected] or [email protected] for class action information.
According to the lawsuit, throughout the class period, the defendants made false and / or misleading statements and / or failed to disclose that: (1) the pre-orders for Arcimoto’s Fun Utility Vehicles (“FUVs”) were made with only 19 units or were never delivered from an alleged pre-order of 422; (2) Arcimoto has not informed its customers that almost 100% of the vehicles delivered have been subjected to a safety recall. (3) Arcimoto’s largest customer, R-Key-Moto, was an undisclosed related party owned by Insider FOD Capital, LLC; (4) Arcimoto’s partnership with HULA was an undisclosed related party transaction. and (5) as a result, the defendants’ public statements at all relevant times have been materially false and / or misleading.
A class action lawsuit has already been filed. If you want to serve as the lead plaintiff, you must transfer the court by June 18, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. To join the litigation, visit http://www.rosenlegal.com/cases-register-2064.html or contact Phillip Kim, Esq. the law firm Rosen free of charge at 866-767-3653 or by email at [email protected] or [email protected].
NO CLASS HAS BEEN CERTIFIED IN THE ABOVE PROMOTION. Until a class is certified, you will not be represented by the advisor unless you keep one. You can keep the advice of your choice. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO PARTICIPATE IN A POSSIBLE FUTURE RECOVERY IS NOT DEPENDENT ON THE SERVICE AS LEAD PLAINTIFF.
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Rosen law firm represents investors around the world and focuses its practice on securities and shareholder derivatives litigation. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for number of class action settlements in 2017. The firm has been voted one of the top 4 every year since 2013. Law firm Rosen has filed its largest class action lawsuit ever for securities against a Chinese company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and reputable sources. Rosen law firm has raised hundreds of millions of dollars for investors.
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CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen, PA law firm
275 Madison Avenue, 40th floor
New York, NY 10016
Tel .: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
www.rosenlegal.com
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
KEYWORD IN INDUSTRY: LEGAL PROFESSIONAL SERVICES
SOURCE: The Rosen, PA law firm
Copyright Business Wire 2021.
PUB: 04/19/2021 5:00 p.m. / DISC: 04/19/2021 5:01 p.m.
http://www.businesswire.com/news/home/20210419005899/de
Copyright Business Wire 2021.
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