Press release
Dealine on June 18, 2021 coming up in Lawsuit for Investors in Arcimoto, Inc. (NASDAQ: FUV)
A Deadline is coming up on June 18, 2021 in the lawsuit for certain investors in Arcimoto, Inc. (NASDAQ: FUV).
Investors who purchased shares of Arcimoto, Inc. (NASDAQ: FUV) have certain options and there are strict and short deadlines running. Deadline: June 18, 2021. NASDAQ: FUV 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 Eastern District of New York the plaintiff alleges on behalf of purchasers of Arcimoto, Inc. (NASDAQ: FUV) common shares between February 14, 2018 and March 22, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 14, 2018 and March 22, 2021 the defendants made false and/or misleading statements and/or failed to disclose that the preorders of Arcimoto’s Fun Utility Vehicles (“FUVs”) were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422, that Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall, that Arcimoto’s largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC, that Arcimoto’s partnership with HULA was an undisclosed related party transaction, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Arcimoto, Inc. (NASDAQ: FUV) 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.
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