Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Arcimoto, Inc. (FUV) Investigation
NEW YORK, NY / ACCESSWIRE / April 5, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Arcimoto, Inc. ("Arcimoto" or "the Company") (NASDAQ:FUV). Investors who purchased Arcimoto securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/fuv.
The investigation concerns whether Arcimoto and certain of its officers and/or directors have violated federal securities laws.
On March 23, 2021, Bonitas Research ("Bonitas") published a short-seller report addressing Arcimoto. In the report, Bonitas alleged that Arcimoto fabricated pre-orders to generate fake demand, only delivered on 19 of the 422 alleged pre-orders since 2018, sold 13 of these 19 pre-orders to an undisclosed related party, and failed to notify customers that Arcimoto had filed a total production recall notice with the the National Highway Traffic Safety Administration. Following publication of the Bonitas report, Arcimoto's stock price fell $1.10 per share, or approximately 6.56%, to close at $15.67 on March 23, 2021.
If you are aware of any facts relating to this investigation, or purchased Arcimoto shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/fuv. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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