DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Churchill Capital Corp. VI and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that on behalf of investors who own Churchill Capital Corporation VI (NYSE: CCVI) securities between January 11, 2021 and February 22, 2021, inclusive ) (the “Class Period”). Investors have until August 30, 2021 to apply to the court to be named as the main plaintiff in the legal dispute.

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On January 11, 2021, Bloomberg News reported that Lucid Motors Inc. (“Lucid”), an American auto company specializing in electric cars, was in talks to go public through a merger with one of Michael Klein’s special purpose vehicles, including Churchill.

Over the next few weeks, Lucid’s Chief Executive Officer Peter Rawlinson made media appearances stating that Lucid was aiming for a spring delivery for its first vehicles.

On February 22, 2021, the Churchill-Lucid merger was announced with an estimated transaction value of $ 11.75 billion. Churchill’s share price closed at $ 57.37.

On the same day, after the market closed, Bloomberg News reported that production of Lucid’s debut car would be postponed until at least the second half of 2021, with no specific date set for the actual delivery of the vehicles. Details of the merger also revealed that Lucid had forecast production of just 557 vehicles in 2021, instead of the 6,000 announced in advance of the merger announcement.

On February 23, 2021, Churchill stock fell $ 22.16, or 38%, to close at $ 35.21 per share on February 23, 2021.

The complaint filed in this class action lawsuit alleges that during the collection period the defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. In particular, the defendants did not disclose to investors: (1) Lucid was not ready to deliver vehicles until spring 2021; (2) Lucid forecast production of 557 vehicles in 2021 instead of the 6,000 vehicles advertised in advance of the merger with Churchill; and (3) as a result of the foregoing, defendants’ positive statements about the business, operations and prospects of the company were materially misleading and / or unfounded.

If you have purchased Churchill securities during the Class Action Period and suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at [email protected], by phone at (212) 355-4648 or fill out this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents private and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at Lawyer advertising. Previous results do not guarantee similar results.

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