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LOS ANGELES, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Lightning eMotors, Inc. ("Lightning" or "the Company") (NYSE : ZEV) investors that acquired securities between May 7, 2021 and August 16, 2021.
After the market closed on August 16, 2021, Lightning eMotors announced its second quarter 2021 financial results, reporting a net loss of $46.1 million, in comparison with a net loss of $2.8 million during the prior-year period. Lightning also withdrew its fiscal 2021 guidance, and stated that it “no longer expects to meet full year guidance” citing among other things “chassis production disruptions.” On August 17, 2021, Lightning’s share price fell $1.63, or 17%, on this news, to close at $8.00 per share.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar