Investor Alert: Kaplan Fox Investigates Nio Inc. (NIO)
NEW YORK, March 6, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of Chinese electric carmaker Nio Inc. (NYSE: NIO).
On September 11, 2018, NIO closed its initial public offering of 160 million American Depository Shares at $6.26 per share.
On November 29, 2018, the Company disclosed that "Padmasree Warrior, chief development officer of NIO and chief executive officer of NIO USA, Inc., has decided to resign from her roles with the Company for personal interests, effective from December 17, 2018." On this news, NIO shares declined approximately 4%.
On January 30, 2019, NIO disclosed the pricing of $650 million in convertible senior notes due 2024 and closed the offering on February 4, 2019.
On March 5, 2019, after the close of trading, NIO disclosed its fourth quarter and year ended December 31, 2018 financial results. TheStreet.com reported that "the so-called Tesla of China posted a wider-than-expected loss in the fourth quarter and said it experienced 'a greater-than-anticipated slowdown in monthly deliveries' of its ES8 sport-utility vehicle."
"The Shanghai-based electric carmaker posted a fourth-quarter loss of 3.5 billion renminbi ($520 million), or 49 cents per ADR. Analysts had expected a loss of 32 cents per ADR. Revenue in the quarter of 3.4 billion renminbi topped analysts' forecasts."
"NIO said it delivered 7,980 ES8 sport-utility vehicles in the fourth quarter in China vs. 3,268 vehicles delivered in the third quarter. The company said, however, that deliveries of the ES8 in January and February were 1,805 and 811 vehicles, respectively, 'which reflect a greater-than-anticipated slowdown in monthly deliveries compared to December 2018. The sequential slowdown in vehicle deliveries in January and February was mainly caused by accelerated deliveries made at the end of last year in anticipation of EV subsidy reductions in China in 2019, the seasonal slowdowns surrounding the January 1st and Chinese New Year holidays, as well as the current slowdown of macro-economic conditions in China, particularly in the automotive sector...'"
On March 6, 2019, NIO shares declined over $2 per share or approximately 19% on very heavy volume.
If you are an investor in NIO and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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