RMO LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Romeo Power, Inc.
New York, New York--(Newsfile Corp. - May 4, 2021) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Romeo Power, Inc. ("Romeo Power") (NYSE: RMO) between October 5, 2020 and March 30, 2021.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
http://www.wongesq.com/pslra-1/romeo-power-inc-loss-submission-form?prid=15445&wire=5
Allegations against RMO include that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.
If you suffered a loss in Romeo Power you have until June 15, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82791
