INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of Lucid Group, Inc. (LCID) Investors
NEW YORK, Dec. 08, 2021 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against Lucid Group, Inc. (“Lucid” or the “Company”) (NASDAQ: LCID). The investigation concerns whether Lucid has violated the federal securities laws and/or engaged in other unlawful business practices.
On July 23, 2021, Lucid Motors completed its business combination with Churchill Capital IV.
On December 6, 2021, Lucid, formerly known as Atieva, Inc., announced that the Securities and Exchange Commission (“SEC”) is investigating the Company’s $11.75 billion SPAC merger and has issued a subpoena for documents. Lucid noted in a Form 8-K filed with the SEC that it received a subpoena on December 3, 2021, requesting “the production of certain documents related to an investigation by the SEC” that “appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements.” On this news, the Company’s share price declined by $2.41 per share, or approximately 5.1%, from $47.27 per share to close at $44.86 per share on December 6, 2021.
If you purchased or otherwise acquired Lucid securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
[email protected]
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