Investigation announced for Investors in Lucid Group, Inc. (NASDAQ: LCID) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Lucid Group, Inc.

Investors who purchased shares of Lucid Group, Inc. (NASDAQ: LCID) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Lucid Group, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Newark, CA based Lucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies.

On December 6, 2021, Lucid Group, Inc. disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that "[o]n December 3, 2021, [Lucid] received a subpoena from the [SEC] requesting the production of certain documents related to an investigation by the SEC. Although there is no assurance as to the scope or outcome of this matter, the investigation appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements."

Shares of Lucid Group, Inc. (NASDAQ: LCID) declined from $57.44 per share on November 22, 2021 to as low as $35.80 per share on December 10, 2021.

Those who purchased shares of Lucid Group, Inc. (NASDAQ: LCID) 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.