Grabar Law Office Investigates Claims on Behalf of Shareholders of Microvast Holdings Inc. (MVST)

Philadelphia, Pennsylvania--(Newsfile Corp. - September 11, 2024) - Current Microvast Holdings, Inc. (NASDAQ: MVST) shareholders who have held Microvast stock since prior to October 19, 2022, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. 
Learn more or join at: https://grabarlaw.com/the-latest/microvast-shareholder-investigation/.

Grabar Law Office is investigating whether Officers and Directors of Microvast breached their fiduciary duties to shareholders.

WHY: In October 2022, the United States Department of Energy conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility. Polyaramid is a high-temperature resistant synthetic polymer, and a polyaramid separator is an insulating film used in high-capacity lithium-ion batteries.

An underlying securities class action complaint alleges that Microvast, via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that there was a reasonable likelihood that Microvast would not be awarded the Grant after due diligence was performed; (2) that negotiations had ceased and the Grant rescinded; (3) that the Company misrepresented the nature and profitability of its businesses and partnerships; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT TO DO NOW: Current Microvast shareholders who have held Microvast shares since prior to October 19, 2022, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

If you would like to learn more about this matter, visit https://grabarlaw.com/the-latest/microvast-shareholder-investigation/, contact Joshua H. Grabar, Esq. at jgrabar@grabarlaw.com, or call 267-507-6085.

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