Credit: buffaloboy/Shutterstock UK-Based Electric Vehicle Company Accused of Misleading Investors in SPAC Merger
This suit was surfaced by Law.com Radar. Read the complaint here.
January 12, 2022 at 04:49 PM
1 minute read
Securities Litigation
Pomerantz LLP filed a securities class action Wednesday in New York Eastern District Court against United Kingdom-based electric vehicle maker Arrival SA and its top executives. The complaint, which arises from a merger between Arrival and blank check company CIIG Merger Corp., accuses the defendants of failing to disclose that Arrival would not achieve its production rollout deadlines, nor meet its projected sales volumes. Counsel have not yet appeared for the defendants. The case is 1:22-cv-00172, Sanchez v. Arrival SA et al.
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