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BOSTON, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Block & Leviton announces that a class action lawsuit has been filed against Lightning eMotors, Inc. (NYSE: ZEV) for potential securities law violations. Investors who have lost money in their Lightning eMotors investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/zev.
What is this all about?
After the market closed on August 16, 2021, Lightning eMotors announced financial results for the second quarter ended June 30, 2021, including a net loss per share of $0.79 compared to a loss of $0.10 in the second quarter of 2020. The Company also pulled its full year financial guidance for the remainder of 2021, just days after announcing a multi-year agreement with Forest River, a Berkshire Hathaway company. Lightning eMotors started trading on the NYSE on May 7, 2021, following a de-SPAC transaction with GigCapital3.
On this news, shares of Lightning eMotors stock fell 16% in intraday trading on August 17, 2021.
Who is eligible?
Anyone who purchased Lightning eMotors stock between May 7, 2021 and August 16, 2021 is potentially eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is December 14, 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.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email email@example.com with any questions.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
SOURCE: Block & Leviton LLP