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 Lightning eMotors, Inc. (“Lightning” or “the Company”) (NYSE: ZEV) f/k/a GigCapital3, Inc. (NYSE: GIK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Lightning announced its financial results for the second quarter of fiscal year 2021 after the market closed on August 16, 2021. The company disclosed a net loss per share of $0.79 as compared to a loss of $0.10 in the same period for the prior year. The Company also withdrew its full-year guidance, citing “chassis production disruptions” amongst other problems. Based on this news, shares of Lightning fell by almost 17% the next day, harming investors.
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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.
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