PR Newswire
NEW YORK, Feb. 18, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Arrival SA. (NASDAQ: ARVL).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/arrival-sa-loss-submission-form/?id=23799&from=4
This lawsuit is on behalf of a class consisting of persons who purchased or otherwise acquired common shares of Arrival stock between November 18, 2020 and November 19, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 22, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Arrival SA. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company would record a substantially greater net loss and adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expense to operate and deploy its microfactories and manufacture EV vehicles than it had disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its disclosed production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines. Accordingly, the Company materially overstated its financial and operational position and/or prospects, and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
