-

SHAREHOLDER ALERT - Labaton Sucharow Investigating Electric Last Mile Solutions Inc. - ELMS

NEW YORK--(BUSINESS WIRE)--Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating potential violations of the federal securities laws by Electric Last Mile Solutions, Inc. ("Electric Last Mile Solutions" or "the Company") (NASDAQ:ELMS).

After the market closed on February 1, 2022, Electric Last Mile Solutions, Inc. announced that the company's previously issued consolidated financial statements should be restated and no longer be relied upon. Board member Shauna McIntyre was named as interim CEO and President following the resignation of former CEO, James Taylor.

Taylor resigned after an investigation by a Special Committee of the Board of Directors found that in November and December of 2020, certain company executives, including Taylor, purchased equity in the firm at substantial discounts to the current market value without any independent valuation.

Shares of Electric Last Mile Solutions stock dropped more than 25% in after-hours trading on February 1, 2022.

If you currently own stock or options in Electric Last Mile Solutions, Inc. and suffered a loss, click here to participate.

If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.

Contacts

David J. Schwartz
(800) 321-0476
david@labaton.com

Industry:

Labaton Sucharow LLP

NASDAQ:ELMS
Release Versions
English

Contacts

David J. Schwartz
(800) 321-0476
david@labaton.com

More News From Labaton Sucharow LLP

Labaton Keller Sucharow LLP Pursues Claims Against Snap Inc. for Negative Effects on Adolescent Mental Health

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton” or the “Firm”), a premier plaintiff’s law firm, is pursuing individual arbitration claims against Snap Inc., the company behind the social media app Snapchat, on behalf of individuals who suffered mental or physical harm as a result of using the app during childhood or adolescence. Snapchat is a social media app where users can send disappearing photos and videos. The Firm is representing eligible individuals in arbitration claim...

Labaton Keller Sucharow LLP Files Securities Class Action Against Primoris Services Corporation

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton”) has filed a securities class action lawsuit (the “Action”) on behalf of its clients Boston Retirement System (“Boston”) and NS Pension Public Equity Fund (“NS Pension”) against Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM) and certain Primoris officers and directors (collectively, “Defendants”). The Action, which is captioned Boston Retirement System v. Primoris Services Corp., No. 26-cv-02416-B (N.D. T...

Labaton Keller Sucharow LLP Launches Corporate Accountability & Governance Task Force

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP is pleased to announce the launch of its new Corporate Accountability & Governance Task Force, designed to help institutional investors advance corporate accountability while pursuing meaningful shareholder recoveries. Created in response to the increasing needs of our clients, the Task Force will provide clients with strategic advice on opportunities to drive positive corporate change through securities and shareholder litigation. This...
Back to Newsroom