The Law Offices of Frank R. Cruz Announces Investigation of Canoo Inc. (GOEV) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Canoo Inc. (GOEV) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Canoo Inc. (“Canoo” or the “Company”) (NASDAQ: GOEV) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On March 29, 2021, Canoo announced its fourth quarter and full year 2020 financial results in a press release, reporting a net loss of $89.9 million for the year. The Company also announced that its Chief Financial Officer had resigned.
The same day, The Verge released an article entitled “Canoo’s deal with Hyundai appears dead: The startup’s [sic] also changed its tune on selling EV tech to big companies.” The article stated that “[w]hen pressed on the startup’s previous claims,” the current chairman pointed to its prior leadership and said “they were a little more aggressive” and “that talk of potential partnerships was ‘presumptuous.’” Lastly, the article noted that “Canoo quietly uploaded a new investor presentation to its investor relations website on Monday that no longer mentions Hyundai.”
On this news, Canoo’s share price fell sharply during intraday on March 30, 2021, thereby damaging investors.
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If you purchased Canoo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
