NEW YORK, NY / ACCESSWIRE / October 26, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Nikola Corporation, f/k/a VectoIQ Acquisition Corp. (NASDAQ:NKLA)
Class Period : March 3, 2020 - September 15, 2020
Lead Plaintiff Deadline : November 16, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its "in-house" design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading "test" video of the Company's Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
Credit Acceptance Corporation (NASDAQ:CACC)
CONTACT JAKUBOWITZ ABOUT CACC:
Class Period : November 1, 2019 - August 28, 2020
Lead Plaintiff Deadline : December 1, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.
Royal Caribbean Cruises Ltd. (NYSE:RCL)
CONTACT JAKUBOWITZ ABOUT RCL:
Class Period : February 4, 2020 - March 17, 2020
Lead Plaintiff Deadline : December 7, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Royal Caribbean misled investors to believe that any issue related to COVID-19 was relatively insignificant; (2) the Company falsely assured investors that bookings outside China were strong with no signs of a slowdown; (3) the Company was experiencing material declines in bookings globally due to customer concerns over COVID-19; and (5) the Company's ships were following grossly inadequate protocols that would foster the spread of COVID-19 and pose a substantial risk to passengers and crews.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: Jakubowitz Law
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