Lawsuit Alert: Investors who lost money with shares of Luminar Technologies, Inc. (NASDAQ: LAZR) should contact the Shareholders Foundation

An investor, who purchased shares of Luminar Technologies, Inc. (NASDAQ: LAZR) filed a lawsuit over alleged violations of Federal Securities Laws by Luminar Technologies, Inc..

Investors who purchased shares of Luminar Technologies, Inc. (NASDAQ: LAZR) have certain options and for certain investors are short and strict deadlines running. Deadline: September 22, 2025. NASDAQ: LAZR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Orlando, FL based Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. Luminar Technologies, Inc specializes in advanced LiDAR hardware and software solutions for vehicles.

On March 20, 2025, Luminar Technologies, Inc issued a quarterly business update and financial results for the fourth quarter and full year of 2024. Included with the results was guidance for the full year 2025.

On May 14, 2025, Luminar Technologies, Inc r provided its quarterly business update and financial results for the first quarter of 2025, which reiterated guidance for the full year 2025.

On May 14, 2025, approximately 30 minutes after Luminar Technologies, Inc issued its first quarter 2025 financial results, the Company issued a press release announcing that Russell had resigned, "effective immediately, following a Code of Business Conduct and Ethics inquiry by the Audit Committee of the Board of Directors." '

On the following day, investment analysts at J.P. Morgan issued a report downgrading Luminar Technologies, Inc stock. The report stated, among other things, Russell's "leadership in technology and his industry reputation were central to the bull thesis for the company."

Shares of Luminar Technologies, Inc. (NASDAQ: LAZR) declined from $8.53 per share on March 24, 2026, to as low as $2.515 per share on June 23, 2025.

The plaintiff claims that between March 20, 2025, and May 14, 2025, the Defendants made false and/or misleading statements and/or failed to disclose that Austin Russell ("Russell"), Luminar's President, Chief Executive Officer, and Chairman of the Board, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors, that this conduct created material risk that Russell would be released from his positions at the Company, that Luminar's loss of Russell as an employee would then create material risk of adversely affecting the Company's business by making it more difficult to, compete with other market participants, manage R&D activities, and retain existing customers or cultivate new ones. Further, negative public perception and negative news related to Russell could also adversely affect Luminar's brand, relationships with customers, or standing in the industry, that accordingly, Luminar had no reasonable basis to provide and/or maintain the Company's financial guidance, and that as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of Luminar Technologies, Inc. (NASDAQ: LAZR) 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.