LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of NIO Inc. (“NIO” or “the Company”) (NYSE: NIO) 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.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. NIO made no effort to build a manufacturing facility for its electric vehicles, instead relying on an obscure manufacturer owned by the Chinese government, JAC Auto, to build its products. The government’s reduction of subsidies for electric vehicles negatively impacted the Company’s sales. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NIO, investors suffered damages.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, 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@example.com.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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