NOTICE for Investors in ELMS: April 4th Deadline in Lawsuit Against Electric Last Mile Solutions, Inc. Announced by Shareholders Foundation

San Diego, California--(Newsfile Corp. - March 28, 2022) - The Shareholders Foundation, Inc. announced that a deadline is coming up on April 4th in the lawsuit that was filed for certain investors in (NASDAQ: ELMS) shares.

Investors who purchased in excess of $50,000 in shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) have certain options and there are short and strict deadlines running. Deadline: April 4, 2022. NASDAQ: ELMS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 3, 2022, a lawsuit was filed against Electric Last Mile Solutions, Inc f/k/a Forum Merger III Corp over alleged Securities Laws violations. The plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose: that Electric Last Mile Solutions' previously issued financial statements were false and unreliable, that Electric Last Mile Solutions, Inc's earlier reported financial statements would need restatement, that certain Electric Last Mile Solutions, Inc. executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation, that on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Christopher Clausen
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118298