Investigation announced for Long-Term Investors in shares of Luminar Technologies, Inc. (NASDAQ: LAZR)

An investigation was announced for long-term investors in shares of Luminar Technologies, Inc. (NASDAQ: LAZR) over possible breaches of fiduciary duties by certain directors of Luminar Technologies, Inc.

Investors who are current long term investors in Luminar Technologies, Inc. (NASDAQ: LAZR) shares, 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 for current long term investors in NASDAQ: LAZR stocks follows a lawsuit filed against Luminar Technologies, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LAZR stocks, concerns whether certain Luminar Technologies, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Middle District of Florida the plaintiff alleges that 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.