Romeo Power, a supplier of electric vehicle batteries, and members of its board of directors were slapped with a shareholder lawsuit on Friday in California Central District Court in connection with the company's proposed acquisition by Nikola. The suit, filed by Brodsky & Smith and Risen Law, seeks to block the $144 million deal based on alleged misrepresentations in the recommendation statement filed in support of the transaction. Counsel have not yet appeared for the defendants. The case is 2:22-cv-06270, Cataldi v. Romeo Power Inc. et al.
Automotive
September 02, 2022, 12:41 PM