NEW
YORK, Sept. 9, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of NIO Inc. (NYSE: NIO).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/nio-inc-loss-submission-form/?id=31468&from=4
The lawsuit seeks to recover losses for shareholders who
purchased NIO between March 1, 2021
and July 11, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 24, 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, NIO Inc. issued materially false
and/or misleading statements and/or failed to disclose that: (1)
NIO pulled forward revenue by selling batteries to a related party,
which owned the batteries and managed users' subscriptions; (2)
through the related party, NIO also recognized enormous
depreciation savings; (3) as a result of the foregoing, the
Company's revenue and net loss were overstated; and (4) as a result
of the foregoing, defendants' positive statements about the
Company's business, operations, and prospects were materially
misleading and/or lacked a reasonable basis.
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