Luminar Investigation Initiated By Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Luminar Technologies, Inc. - LAZR

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Luminar Technologies, Inc. ("Luminar" or the "Company") (NasdaqGS: LAZR).

In February 2023, while discussing its strategy for its photonic integrated circuits (“PICs”), a type of chip that contains photonic components, as part of its investor conference, the Company displayed an image of its purported PIC technology, which was elegant, simple in design, and appeared poised for driving economies of scale and cost reduction in the industry. However, on March 17, 2023, media outlets reported that the semiconductor developer Lidwave had accused the Company of attempting to pass off a Lidwave PIC as Luminar’s own technology after showing an image of the PIC at the Company’s Luminar Day investor conference and in materials on its website, threatening the Company with legal action.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information in violation of federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Luminar’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Luminar shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([e-mail]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-lazr/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

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To learn more about KSF, you may visit www.ksfcounsel.com.

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