INVESTOR ACTION NOTICE: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Canoo Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
Apr 21, 2021 11:06 AM ET
Legal Newswire POWERED BY LAW.COM
The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Canoo Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 18, 2020 and March 29, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 1, 2021.
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 [email protected]
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Canoo shifted away from its previous focus on selling vehicles using a subscription model. The Company's engineering services would not provide meaningful revenue in 2021, or reduce operational risk. As a result, the Company would shift its focus away from the engineering services business as well. The Company did not have partnerships with original equipment manufacturers (OEMs) and was not engaging in its previously announced partnership with Hyundai. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Canoo, investors suffered damages.
The Schall Law Firm
Brian Schall, Esq.,
Contact Information:The Schall Law Firm
Brian Schall, Esq.,
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