ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Velodyne Lidar, Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm
Los Angeles, California--(Newsfile Corp. - February 26, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Velodyne Lidar, Inc. (NASDAQ: VLDR) ("Velodyne" or "the Company") for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Velodyne announced on February 22, 2021, would be immediately replacing David Hall, the Company's founder and former Chairman of the Board of Directors, and Marta Thoma Hall, the Company's former Chief Marketing Officer. The decision follows an investigation by the Audit Committee that "concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors." The Company's Board of Directors formally censured Mr. Hall and Ms. Hall. Based on this news, shares of Velodyne fell by about 15% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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