The Law Offices of Frank R. Cruz Announces Investigation of Lucid Group, Inc. (LCID) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Lucid Group, Inc. (LCID) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Lucid Group, Inc. (“Lucid” or the “Company”) (NASDAQ: LCID) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On February 28, 2022, Lucid disclosed that it had only delivered approximately 125 EVs in 2021 – 452 less than expected – and would only produce between 12,000 and 14,000 EVs in 2022, despite previous claims that it would produce 20,000. The Company also announced that it would delay the launch of its Lucid Gravity SUV from 2023 to 2024, citing “the extraordinary supply chain and logistics challenges” as the cause.
On this news, Lucid’s common stock fell $3.99, or 13.8%, to close at $24.99 per share on March 1, 2022, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Lucid 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
