NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Romeo Power, Inc. (NYSE: RMO) on behalf of Romeo Power stockholders. Our investigation concerns whether Romeo Power has violated the federal securities laws and/or engaged in other unlawful business practices.
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On December 29, 2020, Romeo Power announced the completion of its business combination with a special purpose acquisition company (SPAC) and that starting on December 30, 2020, Rower Power’s common stock would trade on the New York Stock Exchange.
Then, on March 30, 2021, Romeo Power announced that as a result of a significant supply shortage of battery cells, Romeo Power now expects its revenue for 2021 to be in the range of $18-40 million compared to a prior projection of $140 million that the Company reportedly made in a November Presentation ahead of the merger.
Following this news, Romeo Power’s stock price fell $2.04 per share, or 19.7%, to close at $8.33 per share on March 31, 2021.
If you purchased or otherwise acquired Romeo Power shares and suffered a loss, are a long term stockholder, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.