Investigation announced for Investors who lost money with shares of Microvast Holdings, Inc. (NASDAQ: MVST)

An investigation was announced over potential securities laws violations by Microvast Holdings, Inc. in connection with certain financial statements.

Investors who purchased shares of Microvast Holdings, Inc. (NASDAQ: MVST), 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 focuses on whether a series of statements by Microvast Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Stafford, TX based Microvast Holdings, Inc. designs, develops, and manufactures battery systems for electric vehicles and energy storage systems in the United States, China, rest of the Asia Pacific, and Europe. Microvast Holdings, Inc. reported that its annual Total Revenue rose from $151.97 million in 2021 to $204.49 million in 2022, and that its Net Loss declined from $216 million in 2021 to $158.2 million in 2022.

On May 22, 2023, it was reported that the U.S. Department of Energy (DoE) canceled a $200M grant to lithium battery manufacturer, Microvast Holdings, Inc., citing lawmakers' concerns over the Company's alleged links to the Chinese Communist Party. Microvast Holdings, Inc. has been in talks with the DoE over the grant to help build a plant in Tennessee to support its work with General Motors developing specialized electric vehicle batteries.

Shares of Microvast Holdings, Inc. (NASDAQ: MVST) declined from $2.25 per share on May 19, 2023, to as low as $1.21 per share on June 1, 2023.

Those who purchased shares of Microvast Holdings, Inc. (NASDAQ: MVST) 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.