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Investigation
04/02/2021
Initial Lawsuit
04/02/2021
Lawsuit Progression
02/18/2022
This is a federal class action brought individually and on behalf of all other persons and entities who purchased or otherwise acquired publicly-traded Canoo common stock and/or warrants from August 18, 2020, through and including March 29, 2021.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) the Company’s engineering services was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk;
(ii) that the Company would no longer be focused on its subscription-based business model;
(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
