Lucid Group, Inc. Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information

Boston, Massachusetts--(Newsfile Corp. - April 4, 2022) - Block & Leviton announces that a class action lawsuit has been filed against Lucid Group, Inc. (NASDAQ: LCID) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/lcid.

What is this all about?

The complaint alleges that Lucid made materially false and/or misleading statements and failed to disclose material adverse facts, including that it: (i) had only delivered approximately 125 EVs in 2021 and still had only produced approximately 400 EVs by February 28, 2022; (ii) would only produce between 12,000 and 14,000 EVs in 2022; and (iii) would delay the launch of the Lucid Gravity until 2024.

Shares of Lucid Group stock fell more than 13% in intraday trading on February 28, 2022.

Who is eligible?

Anyone who purchased Lucid Group, Inc. stock between November 15, 2021 and February 28, 2022 is eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is May 31, 2022. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com

SOURCE: Block & Leviton LLP
www.blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119150

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