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Stock impact report

LUCID ALERT: Bragar Eagel & Squire, P.C. is Investigating Lucid Group on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Lucid Group, Inc. (LCID) 
Company Research Source: GlobeNewswire
NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Lucid Group (NASDAQ: LCID) on behalf of long-term stockholders following a class action complaint that was filed against Lucid on April 1, 2022 with a Class Period from November 15, 2021 to August 3, 2022. Our investigation concerns whether the board of directors of Lucid have breached their fiduciary duties to the company. The Lucid class-action lawsuit alleges that, as Lucid transitioned into a publicly-traded company, defendants assured investors that Lucid would produce 577 EVs in 2021, 20,000 EVs in 2022, and 49,000 EVs in 2023 (including 12,000 of the Project Gravity SUV, which would launch that year). Indeed, the defendants repeatedly assured investors that Lucid’s production capacity was rapidly increasing and that Lucid would reach its production targets. However, as the Lucid class-action lawsuit alleges, t Show less Read more
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