Kirby McInerney LLP Announces Investigation of Shareholder Claims Against NWTN Inc. (NWTN)

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against NWTN Inc. (“NWTN” or the “Company”) (NASDAQ: NWTN). The investigation concerns whether NWTN and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

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On May 24, 2024, NWTN issued a press release announcing that it received a letter from the Nasdaq Stock Market LLC stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 20-F for the period ended December 31, 2023 with the Securities and Exchange Commission” and that the Company has 60 calendar days, until July 22, 2024, to submit a plan to regain compliance. On this news, the price of NWTN shares declined by $0.58 per share, or approximately 14.4%, from $4.02 on May 24, 2024 to close at $3.44 per share on May 28, 2024.

If you purchased or otherwise acquired NWTN securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at [e-mail], or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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