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NEW YORK, October 16, 2021--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against lightning eMotors, Inc. ("Lightning eMotors" or the "Company") (NYSE: ZEV) in the United States District Court for the District of Colorado on behalf of all persons and entities who purchased or otherwise acquired Lightning eMotors securities between May 7, 2021, and August 16, 2021, both dates inclusive (the "Class Period"). Investors have until December 14, 2021, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Lightning eMotors’ stock began trading on the New York Stock Exchange on May 7, 2021, following a de-SPAC transaction with GigCapital3. Then, on August 16, 2021, Lightning eMotors announced the Company's financial results for the second quarter of 2021, including a net loss per share of $0.79 compared to a loss of $0.10 in the second quarter of 2020. The Company also pulled its full year financial guidance for the remainder of 2021, just days after announcing a multi-year agreement with Forest River, a Berkshire Hathaway company.
On this news, Lightning eMotors’ stock price fell $1.63 per share, or 16.93%, to close at $8.00 per share on August 17, 2021.
If you purchased or otherwise acquired Lightning eMotors shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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