Lightning eMotors, Inc. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Colorado against Lightning eMotors, Inc.
NEW YORK, Oct. 28, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit class action lawsuit has been filed against Lightning eMotors, Inc. ("Lightning eMotors" or the "Company") (NYSE: ZEV) in the United States District Court for the District of Colorado on behalf of all persons and entities who purchased or otherwise acquired Lightning eMotors securities between May 7, 2021, and August 16, 2021, both dates inclusive (the "Class Period").
All investors who purchased Lightning eMotors, Inc.and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Lightning eMotors, Inc., you may,no later than December 14, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Lightning eMotors, Inc.
Lightning eMotors designs, manufactures, and sells electric vehicles. The Company produces electric fleet medium- and heavy-duty vehicles, including delivery trucks, shuttle buses, passenger vans, chassis-cab models, and city transit buses.
On May 6, 2021, Lightning eMotors enacted a business combination (the "Business Combination") with Lightning Systems, Inc. The Company changed its name from GigCapital3, Inc. to Lightning eMotors, Inc. and the Company's common stock and warrants began trading on the New York Stock Exchange.
On August 16, 2021, after the close of trading, Lightning eMotors announced the Company's financial results for the second quarter of 2021, including a net loss per share of $0.79, as compared to a loss of $0.10 in the second quarter of 2020. The Company also pulled its full year financial guidance for the remainder of 2021, just days after announcing a multi-year agreement with Forest River, a Berkshire Hathaway company.
On this news, Lightning eMotors's stock price fell $1.63 per share, or 16.93%, to close at $8.00 per share on August 17, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.