Philadelphia, Pennsylvania--(Newsfile Corp. - June 4, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against Lucid Group, Inc. (NASDAQ: LCID) ("Lucid" or the "Company") on behalf of investors who purchased or acquired Lucid common stock during the period from February 25, 2026 through April 13, 2026 (the "Class Period").

Investor Deadline: Investors who purchased or acquired Lucid common stock during the Class Period may, no later than July 28, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.

Headquartered in Newark, Calif., Lucid is a technology-driven automaker that engineers its electric vehicles, powertrains, and battery systems in-house, with a product line that currently spans the Lucid Air sedan and the Lucid Gravity sport utility vehicle.

The Complaint alleges that Defendants failed to disclose that: (i) a defect in a vendor-supplied component - the Lucid Gravity's second-row seats - was interrupting deliveries of that model in Q1 2026; and (ii) the interruption was already eroding, and would continue to erode, Lucid's revenue and results for the quarter.

On April 3, 2026, Lucid reported Q1 2026 production of 5,500 vehicles against deliveries of only 3,093, attributing the shortfall to a 29-day halt in Lucid Gravity shipments tied to a defect in the model's second-row seats. On this news, Lucid's stock price fell 11.35% across the next two trading sessions, ending at $8.83 per share on April 7, 2026 - a $1.13 decline.

On April 14, 2026, the Company disclosed preliminary quarterly revenue of about $280-$284 million - far below the $433.8 million consensus - and operating losses of roughly $985 million to $1.005 billion, while unveiling an approximately $1.05 billion capital raise that featured a $300 million stock offering. On this news, Lucid's stock price fell 4.76%, closing at $8.80 per share on April 14, 2026 - a $0.44 drop.

If you are a Lucid investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015, or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865.

About Berger Montague
Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

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Source: Berger Montague