-

Securities Lawsuit Against Archer Is Dismissed

SANTA CLARA, Calif.--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical takeoff and landing aircraft, announced today that the plaintiff in the federal securities lawsuit filed against Archer on September 21, 2023 (Cenderelli v. Archer Aviation, Inc.) has chosen to voluntarily dismiss the case. The plaintiff’s dismissal comes shortly after Archer filed its motion to dismiss the case on October 13, 2023.

Andy Missan, Archer’s Chief Legal Officer said, “We are very pleased that the plaintiff has decided to dismiss the case. Archer continues to remain focused on delivering on its mission and creating value for shareholders.”

About Archer

Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer’s mission is to unlock the skies, freeing everyone to reimagine how they move and spend time. Archer's team is based in Santa Clara, CA.

To learn more, visit www.archer.com.

Archer Forward Looking Statements

This press release contains forward looking statements. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including the possibility that unnamed class members could assert the same or similar claims in a new complaint. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, available at www.sec.gov. In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.

Source: Archer
Text: ArcherIR

Contacts

Archer Media Contacts
The Brand Amp - Archer@TheBrandAmp.com

Industry:

Archer Aviation

NYSE:ACHR
Release Versions
English

Contacts

Archer Media Contacts
The Brand Amp - Archer@TheBrandAmp.com

More News From Archer Aviation

Archer Reveals Plans for Miami Air Taxi Network Featuring Partnerships With Related Ross and Magic City Innovation District

MIAMI--(BUSINESS WIRE)--Archer Aviation (NYSE: ACHR) today revealed its plans for a Miami metropolitan area based air taxi network designed to transform how residents and visitors move across one of the nation’s fastest growing regions. Archer’s goal is to connect major population and business centers, including Miami, Fort Lauderdale, Boca Raton and West Palm Beach via 10 - 20 minute electric flights, bypassing ground-based traffic and unlocking a new mobility ecosystem in the air that is safe...

Archer and Karem Aircraft Announce Exclusive Collaboration to Utilize Military-Grade Rotor Technology on Archer’s Next-Generation Dual-Use VTOL Aircraft

SANTA CLARA, Calif. & ORANGE COUNTY, Calif.--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) today announced an exclusive collaboration with Karem Aircraft, giving Archer access to the key aspects of Karem’s advanced, military-grade rotor and tiltrotor technologies for integration into Archer’s next-generation autonomous, hybrid-propulsion VTOL aircraft. The collaboration marks a significant addition to Archer’s strategy as the company accelerates development of its dual-use vertical lift pl...

PIF’s The Helicopter Company, Archer Aviation, and Red Sea Global Partner to Launch eVTOL Air Mobility in Saudi Arabia

DUBAI, United Arab Emirates--(BUSINESS WIRE)--The Helicopter Company (THC), a Public Investment Fund (PIF) company and Saudi Arabia’s premier commercial helicopter operator, has signed an agreement at this year’s Dubai Airshow with Archer Aviation Inc. (NYSE: ACHR), a U.S.-based aerospace innovator designing and developing the key enabling technologies and aircraft necessary to power the future of aviation and Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red...
Back to Newsroom