CLASS ACTION ALERT: Kaskela Law LLC Announces Shareholder Class Action Lawsuit Against Arrival (ARVL) and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

Philadelphia, Pennsylvania--(Newsfile Corp. - February 7, 2022) - Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Arrival (NASDAQ: ARVL) on behalf of investors who purchased shares of the company's securities between November 18, 2020 and November 19, 2021, inclusive (the "Class Period").

Arrival investors with financial losses in excess of $100,000 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (888) 715 - 1740, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/arrival/, for additional information about this action and their legal rights and options.

According to the complaint, on November 8, 2021, Arrival announced the company's financial results for the third quarter of 2021, including a loss of €26 million (compared to a loss of €22 million during the same quarter a year earlier), and adjusted EBITDA loss for the quarter of €40 million (compared to a loss of €18 million in the third quarter of 2020). The Company also pulled its 2022 revenue goals and significantly scaled back its long-term projections, pushing its production and sales timeline into later time periods. Following this news, Arrival's shares fell $4.33 per share, or 24% in value, to close at $13.46 on November 10, 2021, on unusually heavy trading volume.

IMPORTANT DEADLINE: Investors who purchased Arrival's securities during the Class Period may, no later than February 22, 2022, seek to be appointed as a lead plaintiff representative in the action.

Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT: 

D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113098