The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Arcimoto, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
THE ANGEL, April 22, 2021 / PRNewswire / – Schall law firm, a national shareholder rights law firm, is reminding investors of a class action lawsuit against Arcimoto, Inc. (“Arcimoto” or “the Company”) (NASDAQ: FUV) for violating Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 and Rule 10b-5 published by the US Securities and Exchange Commission.
Investors who have bought the Company’s securities between February 14, 2018 and March 22, 2021inclusive (the “Lesson Period”) it is recommended to contact the Company beforehand June 18, 2021.
If you are a shareholder who has suffered a loss, click here to participate.
We also encourage you to get in touch Brian Schall the law firm Schall, 2049 Century Park East, Suite 2460, Los Angeles, California 90067, 310-301-3335 to discuss your rights free of charge. You can also contact us on the company’s website at www.schallfirm.com or by email at [email protected].
In this case, the class has not yet been certified and you will not be represented by a lawyer until certification. If you don’t take action, you can remain an absent class member.
According to the complaint, the company made false and misleading statements to the market. Of 422 alleged pre-orders for Arcimoto’s Fun Utility Vehicles (“FUVs”), the company only delivered 19 units to customers. The company has not disclosed to its customers that almost all FUVs are subject to a safety recall. The company’s largest customer, R-Key-Moto, was an undisclosed related party owned by Insider FOD Capital, LLC. The company’s partnership with HULA was also an undisclosed related party transaction. Because of these facts, the company’s public statements were false and materially misleading. When the market learned the truth about Arcimoto, investors suffered damage.
Join the case to make up for your losses.
Schall law firm represents investors around the world and specializes in class action and shareholder disputes.
This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.
The law firm Schall
Brian Schall, Esq.,
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