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tickers: LI
source: Benzinga
tickers affected by this
| ticker | polarity | why? |
|---|---|---|
| LI | negatively | The class action lawsuit against Li Auto Inc. alleging securities fraud and false statements may negatively impact the company’s stock price, as it raises concerns about the accuracy of the company’s financial statements and its ability to meet its delivery estimates. Investors may lose confidence in the company, leading to a potential decline in the ticker LI. |
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summary
Class Action Filed Against Li Auto Inc. (LI) Seeking Recovery for Investors
NEW YORK, June 07, 2024 - Levi & Korsinsky, LLP, a prominent law firm, has announced that it is notifying investors in Li Auto Inc. (“Li Auto Inc.” or the “Company”) of a class action securities lawsuit. The lawsuit aims to recover losses on behalf of Li Auto Inc. investors who were allegedly affected by securities fraud between February 26, 2024, and May 20, 2024. The class action lawsuit alleges that Li Auto Inc. made false statements and/or concealed important information. The lawsuit claims that the company overstated the demand for its vehicles and the effectiveness of its operating strategy in launching its battery electric minivan, Li MEGA. As a result, the company was unlikely to meet its Q1 2024 vehicle deliveries estimate, which would have a material negative impact on its financial condition. The lawsuit asserts that these actions resulted in the company’s public statements being materially false and misleading. Investors who suffered a loss in Li Auto Inc. during the relevant time frame have until July 9, 2024, to request to be appointed as the lead plaintiff in the case. It is important to note that sharing in any potential recovery does not require serving as the lead plaintiff. Additionally, there is no cost or obligation to participate in the lawsuit. Levi & Korsinsky is a law firm with a strong track record of winning high-stakes cases and securing substantial compensation for aggrieved shareholders. The firm has extensive expertise in representing investors in complex securities litigation. Over the past 20 years, Levi & Korsinsky has been consistently recognized as one of the top securities litigation firms in the United States. This article is for informational purposes only and does not constitute investment advice. Investors are encouraged to conduct their own research and consult with a financial advisor before making any investment decisions.
