Kessler Topaz Meltzer & Check, LLP Announces a Securities Fraud Class Action Lawsuit Filed Against Churchill Capital Corp IV (CCIV)

RADNOR, PA / ACCESSWIRE / June 3, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP reminds Churchill Capital Corp IV (NYSE: CCIV) (“CCIV”) investors that a class action lawsuit for securities fraud has been filed in the United States District Court for the Northern District of Alabama on behalf of CCIV of those who bought or acquired CCIV Securities between January 11, 2021 and February 22, 2021 inclusive (the “Cumulative Period”).

Lead plaintiff deadline: July 6, 2021

Website: https://www.ktmc.com/churchill-capital-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=churchill

Contact: James Maro, Esq. (484) 270-1453

Adrienne Bell, Esq. (484) 270-1435

Toll Free (844) 887-9500

CCIV is a blank check company, also known as a Purpose Acquisition Company. Atieva, Inc., d / b / a Lucid Motors (“Lucid”), is an American automotive company specializing in electric vehicles. As of 2020, Lucid’s first car, Lucid Air, is in development.

On Monday, February 22nd, 2021, the long-awaited merger agreement between CCIV and Lucid was announced. The transaction value of the CCIV and Lucid was estimated at $ 11.75 billion. However, that same evening at 6:22 p.m., Bloomberg News’ Ed Ludlow reported that Lucid’s chief executive officer Peter Rawlinson had announced that production of his debut car would be postponed until at least the second half of 2021 without notice a specific date has been set for the delivery of an actual vehicle.

Following this news, CCIV’s share price fell from a closing price of $ 57.37 per share on February 22, 2021 to a closing price of $ 35.21 per share on February 23, 2021.

The lawsuit alleges that defendants did not provide a true and accurate picture of the business, operations, and financial condition of CCIV during the class action period.

CCIV investors can apply until July 6, 2021 to be appointed as Class Lead Plaintiffs through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or they can choose to do nothing and remain an absent member of the group. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.

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Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and private investors from the US and around the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE: Kessler Topas Meltzer & Check, LLP

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https://www.accesswire.com/650202/Kessler-Topaz-Meltzer-Check-LLP-Announces-a-Securities-Fraud-Class-Action-Lawsuit-Filed-Against-Churchill-Capital-Corp-IV-CCIV

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