LAWSUIT FILED: Canoo Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block & Leviton LLP
Boston, Massachusetts--(Newsfile Corp. - May 13, 2021) - Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces a lawsuit for violations of the federal securities laws has been filed against Canoo Inc. (NASDAQ: GOEV) and certain of its executives. The deadline to move for lead plaintiff is June 17, 2021.
Canoo is a company that is purportedly developing purpose-built electric vehicles. Canoo's Chairman, Tony Aquila, previously touted that Canoo would partner with Hyundai to develop such a vehicle. However, on March 29, 2021, The Verge published an article entitled "Canoo's deal with Hyundai appears dead. The startup . . . also changed its tune on selling EV tech to big companies." The article continued that "[w]hen pressed" Aquila said "that talk of potential partnerships was presumptuous." On this news, shares of Canoo stock fell from their March 26, 2021 close of $12.46 per share to a March 30, 2021 close of $9.30, representing a loss of approximately 25% in just two trading days.
If you purchased or acquired shares of Canoo between August 18, 2020 and March 29, 2021, you are strongly encouraged to contact the nationally-recognized securities law firm Block & Leviton LLP (www.blockleviton.com) at (617) 398-5600, via email at email@example.com, or to visit our website for information on the case. The deadline to move the Court to be appointed lead plaintiff is June 17, 2021. 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.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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