NEW YORK, Dec. 2, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Northern Genesis Acquisition Corp. ("NGA" or the "Company") (NYSE: NGA) in connection with the Company's proposed merger with The Lion Electric Co. ("Lion Electric"), a privately-held manufacturer and distributor of all-electric medium and heavy-duty urban vehicles. Under the terms of the merger agreement, NGA will acquire Lion Electric through a reverse merger that will result in Lion Electric becoming a public company, traded on the New York Stock Exchange under the ticker symbol "LEV." The combined company is anticipated to have a value of approximately $1.9 billion.
If you own NGA shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether NGA's board acted in the best interest of NGA's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Lion Electric, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to NGA public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]