NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 8, 2021 to file lead plaintiff applications in a securities class action lawsuit against QuantumScape Corporation (NYSE:QS), if they purchased the Company’s securities between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of QuantumScape and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-qs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 8, 2021.
About the Lawsuit
QuantumScape and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 4, 2021, before market open, an investigative report issued by Seeking Alpha highlighted numerous measures of subpar performance discovered in the Company’s solid state battery products that rendered them “completely unacceptable for real world field electric vehicle performance,” contrary to the Company’s prior statements touting its battery’s performance data, as well as other significant challenges “to be overcome before they can put the first car in the field…that they have not solved yet and so remain silent about.”
On this news, the price of QuantumScape’s shares plummeted to a close of $49.96 per share on January 4, 2021, a one-day decline of 41% and a decline of more than 62% from the stock’s Class Period high of more than $131 per share on December 22, 2020..
The case is Gowda v. QuantumScape Corporation, 21-cv-00070.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.