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 Hesai Group (“Hesai” or “the Company”) (NASDAQ: HSAI) 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. Hesai issued a press release on March 16, 2023, announcing its unaudited financial results for the three months and full year ended December 31, 2022. The Company failed to disclose that in the final quarter before its initial public offering (“IPO”), it suffered from a “lower in-house plant capacity utilization rate.” This caused an increase in shipments of low margin products such as advanced driver assistance systems (“ADAS”) and light detection and ranging (“LiDAR”) systems. Based on this news, shares of Hesai fell by more than 10% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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