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Radnor, Pennsylvania, June 5, 2021 (Global News Agency) – Kessler Topaz Meltzer & Check, LLP reminds investors that the Northern District of Alabama has filed a securities fraud class action against Churchill Capital Company IV (New York Stock Exchange stock code:CCIV) (“CCIV”) represents a person who purchases or acquires CCIV securities January 11, 2021 to February 22, 2021, Included (“Class Hours”).
Investor deadline reminder: Investors buying or acquiring CCIV securities Yes during class, No later than July 6, 2021, Seeking to be appointed as the chief plaintiff representative of the collective. For more information or to learn how to participate in this lawsuit, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; Toll-free number (844) 887-9500; info@ktmc.com; or Click on https://www.ktmc.com/churchill-capital-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=churchill
CCIV is a blank cheque company, also known as a special purpose acquisition company. Atieva, Inc., d/b/a Lucid Motors (“Lucid”) is an American car company specializing in electric vehicles. As of 2020, Lucid’s first car, Lucid Air, is under development.
According to people familiar with the matter, the course period will begin on January 11, 2021, when Bloomberg News reported that Lucid “is in negotiations to go public through a merger with Michael Klein’s special purpose acquisition company.” Michael Klein on April 2020 CCIV was launched in December and raised US$2,070,000,000 in CCIV’s IPO. There are rumors that Lucid is merging with CCIV. On February 16, 2021, Lucid CEO Peter Rawlinson appeared on Fox Business News. Neil Cavuto touted Lucid’s goal of delivering its first vehicles in the spring.
On Monday, February 22, 2021, the long-awaited merger agreement between CCIV and Lucid was announced. The value of the equity in the CCIV and Lucid transaction is estimated at 11.75 billion U.S. dollars. However, at 6:22 that evening, Bloomberg News’ Ed Ludlow reported that Mr. Rawlinson announced that the production of his first model will be postponed until at least the second half of 2021, and the specific delivery date has not yet been determined. vehicle.
After the news, CCIV’s stock price fell from the closing price of US$57.37 per share on February 22, 2021 to the closing price of US$35.21 per share on February 23, 2021.
The complaint stated that during the entire class action, the defendant failed to truthfully and accurately disclose CCIV’s business, operations, and financial status.
CCIV investors can, No later than July 6, 2021, Seek to be appointed as the chief plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other lawyers, or can choose to do nothing and continue to be absent from class members. The lead plaintiff is the representative party who directs the litigation on behalf of all class members. In order to be appointed as the lead plaintiff, the court must determine that the class member’s claim is a typical claim of other class members and that the class member will fully represent the class. Your ability to share any recovery is not affected by the decision whether or not to serve as the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP is suing class actions involving securities fraud, breach of fiduciary duties, and other violations of state and federal laws in state and federal courts across the country. Kessler Topaz Meltzer & Check, LLP is the driving force of corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors in the United States and around the world. The company represents investors, consumers, and whistleblowers (private citizens who report fraud against the government and share the recovery of government funds). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP.For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
contact:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
info@ktmc.com
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