NEW YORK, July 29, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors of Churchill Capital Corporation IV (“Churchill” or the “Company”) (NYSE: CCIV). These investors are advised to contact Robert S. Willoughby To [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Churchill and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On February 22, 2021, a long-awaited merger between CCIV and Lucid Motors, Inc. (“Lucid”) has been announced. Shortly thereafter, on the same date, the CEO of Lucid announced that production of his first car would be delayed at least until the second half of 2021, with no specific date for the actual delivery of an actual vehicle. Details of the merger also revealed that Lucid plans to produce just 557 vehicles in 2021, instead of the 6,000 he had touted as the merger announcement neared.
On this news, the CCIV share price fell $ 22.16 per share, or 38.63%, to close at $ 35.21 per share on February 23, 2021
The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP