NEW
YORK, Feb. 4, 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=23321&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