Lead Plaintiff Deadline is May 13, 2019
NEW YORK, March 15, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against NIO Inc. (“NIO” or the “Company”) (NIO) in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the American Depositary Receipts (ADRs) of NIO between September 12, 2018 and March 5, 2019, inclusive (the “Class Period”).
Investors who purchased ADRs of NIO Inc. are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.
If you have incurred losses in the ADRs of NIO Inc., you may, no later than May 13, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in NIO Inc.
The filed Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that:
- NIO would not be building its own manufacturing plant and would instead continue to rely on a little-known Chinese state-owned auto manufacturer, JAC Auto, to manufacture its electric vehicles;
- reductions in government subsidies for electric cars would materially impact NIO’s sales; and
- as a result, Defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times.
On March 6, 2019, NIO’s ADRs declined from a closing price on March 5, 2019 of$10.19 per ADR to close at $8.01 per ADR, a decline of $2.01 per ADR or over 21%.
On March 7, 2019, NIO's ADRs declined an additional $0.92 per ADR or over 11% to close at $7.09 per ADR.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
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