RADNOR, Pa., May 9, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors at Churchill Capital Corp IV (NYSE: CCIV) (“CCIV”) that a securities fraud class action lawsuit has been filed on behalf of those who bought or acquired CCIV Titles Between January 11, 2021 and February 22, 2021, inclusive (the “Class Period”).
Lead Applicant Deadline: June 28, 2021
Contact: James Maro, Esq. (484) 270-1453
Adrienne Bell, Esq. (484) 270-1435
Toll free (844) 887-9500
CCIV is a blank check company, also known as a Special Purpose Acquisition Company. Atieva, Inc., d / b / a Lucid Motors (“Lucid”), is an American automotive company specializing in electric cars. As of 2020, Lucid’s first car, Lucid Air, is in development.
At Monday, February 22, 2021, the long-awaited merger agreement between CCIV and Lucid has been announced. The value of the transaction capital of CCIV and Lucid has been estimated $ 11.75 billion. However, at 6:22 p.m. that same night, Ed ludlow from Bloomberg News reported that Peter Rawlinson, CEO of Lucid, has announced that production of his first car will be delayed until at least the second half of 2021, with no specific date set for the delivery of an actual vehicle.
Following this news, the CCIV share price fell after the close $ 57.37 per share on February 22, 2021, at the end of $ 35.21 per share on February 23, 2021.
The complaint alleges that during the entire period of the action, the defendants did not disclose a true and fair view of CCIV’s business, operations and financial condition.
CCIV investors can, not later than June 28, 2021, seeks to be appointed as the principal representative of class claimants through Kessler Topaz Meltzer & Check, LLP or another lawyer, or may choose to do nothing and remain an absent class member. A principal plaintiff is a representative party who acts on behalf of all class members in directing the litigation. To be appointed as a Principal Plaintiff, the Court must determine that the Class Member’s claim is typical of the claims of other Class Members, and that the Class Member will adequately represent the Class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country relating to securities fraud, breaches of fiduciary duty, and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has raised billions of dollars on behalf of institutional and individual investors from United States and all over the world. The company represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and participate in the recovery of public funds). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
SOURCE Kessler Topaz Meltzer & Check, LLP