Deadline on June 1st coming up in Lawsuit for Investors in Canoo Inc. (NASDAQ: GOEV)

A deadline is coming up on June 1, 2021 in the lawsuit filed for certain investors of Canoo Inc. (NASDAQ: GOEV).

Investors who purchased shares of Canoo Inc. (NASDAQ: GOEV) have certain options and there are strict and short deadlines running. Deadline: June 1, 2021. (NASDAQ: GOEV stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of Canoo Inc. (NASDAQ: GOEV) common shares between August 18, 2020 and March 29, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 18, 2020 and March 29, 2021, the that prior to and after the combination between Hennessy Capital Acquisition Corp. IV and Canoo Inc Holdings Limited in December 2020, the Company promoted a business model based on a three-phased approach to generating revenue and growth, that an engineering services segment, that the sales of subscriptions to vehicles to consumers, and that the sale of vehicles to other businesses.

However, the plaintiff claims that the Defendants misled investors by misrepresenting and/or failing to disclose that the Company's engineering services segment was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk, that the Company would no longer be focused on its subscription-based business model, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Canoo Inc. (NASDAQ: GOEV) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.