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NIO INVESTORS: 10/24/22 Filing Deadline in Securities Fraud Class Action – Contact Lieff Cabraser For More Details

Published: 2022-09-02 13:15:00 ET

SAN FRANCISCO, CA / ACCESSWIRE / September 2, 2022 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP urges NIO, Inc. ("NIO") investors who suffered losses between March 1, 2021 and July 11, 2022to contact our law offices immediately regarding pending securities fraud class action against NIO. The deadline to apply to be a lead plaintiff is October 24, 2022.

Lieff Cabraser Heimann & Bernstein, Friday, September 2, 2022, Press release picture

Class Period:March 1, 2021 - July 11, 2022Lead Plaintiff Motion Deadline:October 24, 2022For more information:https://www.lieffcabraser.com/securities/NIO/Contact Lieff Cabraser: Email or textinvestorinfo@lchb.com or call 1-800-541-7358

The securities class action alleges that electric car manufacturer, NIO, misrepresented and failed to disclose that it improperly overstated its net income by selling batteries for its vehicles to an unconsolidated related party. NIO, an electric car manufacturer, gave customers the option to lease batteries for their vehicles from a third party through a subscription program.

On June 28, 2022, Grizzly Research LLC ("Grizzly Research") published a report claiming that NIO inflated its net income by approximately 95% by selling batteries to an unconsolidated related party and recognizing revenues immediately, rather than over the lifetime of the subscription. On this news, the price of NIO ADSs fell $0.59, or 2.57%, from a closing price of $22.95 per ADS on June 27, 2022, to close at $22.36 per ADS on June 29, 2022, on elevated trading volume.

On July 11, 2022, NIO announced that it had appointed a special committee of independent directors to oversee an investigation into the allegations in the Grizzly Research report. On this news, the price of NIO ADSs fell $2.03, or 8.98%, from a closing price of $22.60 per ADS on July 10, 2022, to close at $20.57 per ADS on July 11, 2022, on elevated trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 100 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $124 billion in verdicts and settlements. Lieff Cabraser is committed to ensuring access to justice for all.

SOURCE: Lieff Cabraser Heimann & Bernstein

View source version on accesswire.com: https://www.accesswire.com/714389/NIO-INVESTORS-102422-Filing-Deadline-in-Securities-Fraud-Class-Action-Contact-Lieff-Cabraser-For-More-Details

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.