IMPORTANT INVESTOR REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against NIO Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the FirmSource: Business Wire
Investors who purchased the Company's shares between
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. NIO made no effort to build a manufacturing facility for its electric vehicles, instead relying on an obscure manufacturer owned by the Chinese government, JAC Auto, to build its products. The government’s reduction of subsidies for electric vehicles negatively impacted the Company’s sales. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NIO, investors suffered damages.
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Source: The Schall Law Firm