DEADLINE MONDAY REMINDER: The Schall Law Firm Announces it is Investigating Claims Against NIO Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the FirmSource: Business Wire
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. 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