YORK, Oct. 7, 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
The lawsuit seeks to recover losses for shareholders who
purchased NIO between August 20, 2020
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.
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SOURCE Jakubowitz Law