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Radnor, Pennsylvania, May 30, 2021 (Global News Agency) – The law firm Kessler Topaz Meltzer & Check, LLP announced that it has filed a securities fraud class action in the U.S. District Court for the Southern District of New York against Romeo Power, Inc. (“Romeo”) (New York Stock Exchange stock code:RMO, RMO.WT)) f / k / a RMG Acquisition Corp. (New York Stock Exchange:RMG, RMG.U, RMG.WS)) represents a person who purchases or acquires Romeo securities October 5, 2020 to March 30, 2021, Included (“Class Hours”).
Deadline for lead plaintiff: June 15, 2021
Romeo is an energy technology company that specializes in the design and manufacture of lithium-ion battery modules and battery packs for commercial electric vehicles.
The complaint stated that during the entire class action, the defendant concealed: (1) Romeo had only two battery suppliers instead of four; (2) The potential future risk of supply interruption or shortage that the defendant warned had already occurred and had Romeo’s business, operations and prospects have a negative impact; (3) Romeo has no battery cell inventory to meet end-user needs and increase production in 2021; (4) Romeo’s limited supply poses a substantial obstacle to Romeo’s revenue growth; (5) Romeo’s battery cell supply chain is not hedged, but it is actually completely at risk, and is only subject to the two battery cell suppliers and their 2021 inventory spot market.
Romeo investors may, No later than June 15, 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 claim of a class member is a typical representative of the claims 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 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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