Kessler Topaz Meltzer & Check, LLP Reminds Investors of Class Action Lawsuit Against Churchill Capital Corp IV (CCIV)

RADNOR, Pa., Aug. 26, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Alabama against Churchill Capital Corp IV ( NYSE: CCIV) (“CCIV”) on behalf of those who have bought or acquired CCIV securities between January 11, 2021 and February 22, 2021, including (the “Class Period”).

Investor Deadline Reminder: Investors who have bought or acquired CCIV Securities during the class period, by 08/30/2021 at the latestto be appointed as the group’s lead plaintiff. For more information or information on how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; per email to [email protected]; or click https://www.ktmc.com/churchill-capital-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=churchill

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.

The class period begins on Jan. 11, 2021 when Bloomberg News reported that Lucid is “in talks to go public through a merger with one of Michael Klein’s special acquisition firms, according to those familiar with the matter.” Michael Klein launched CCIV in April 2020 and raised $ 2,070,000,000 when CCIV went public. Lucid has been rumored to be merging with CCIV. On February 16, 2021, Peter Rawlinson, Lucid’s chief executive officer, appeared on Fox Business News with Neil Cavuto announcing that Lucid is aiming for spring delivery of its first vehicles.

On Monday, February 22, 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, at 6:22 p.m. that same night, Bloomberg News’ Ed Ludlow reported that Mr Rawlinson had announced that production of his debut car would be delayed until at least the second half of 2021, with no definite date for delivery of an actual one Vehicle.

The story goes on

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 by 08/30/2021 at the latest, attempt to be appointed as lead class representative through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. 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 want to be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country for securities fraud, fiduciary violations, and other violations of state and federal law. 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 to 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]

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