Canoo Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against Canoo, Inc. f/k/a Hennessy Capital Acquisition Corp. IV (GOEV); Lead Plaintiff Deadline is June 1, 2021
Philadelphia, Pennsylvania--(Newsfile Corp. - April 7, 2021) - Berger Montague is investigating potential securities fraud claims against Canoo, Inc. f/k/a Hennessy Capital Acquisition Corp. IV ("Canoo" or the "Company") (NASDAQ: GOEV) (NASDAQ: GOEVW) (NASDAQ: HCAC) (NASDAQ: HCACW) on behalf of investors who purchased Canoo securities between August 18, 2020 and March 29, 2021 (the "Class Period").
If you purchased Canoo securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague's investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or contact us at www.bergermontague.com/canoo.
According to a recently filed lawsuit, Canoo and members of its senior management failed to disclose a number of material facts during the Class Period, including that: (1) Canoo was shifting away from its previous focus on selling vehicles using a subscription model; (2) the Company's engineering services would not provide meaningful revenue in 2021; and (3) the Company did not have previously announced partnerships with original equipment manufacturers (OEMs) or with Hyundai.
On March 29, 2021, on an earnings call with investors to discuss Canoo's fourth quarter 2020 financial results, defendants revealed that the Company would no longer focus on its engineering services line. The Company further disclosed that its Chief Financial Officer had resigned. In response to this news, shares of Canoo's stock fell $2.50 - over 21% - to close at $9.30 per share on March 30, 2021.
If you purchased Canoo securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is June 1, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Canoo are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79696.
