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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Velodyne Lidar, Inc. (NASDAQ: VLDR) on behalf of Velodyne stockholders. Our investigation concerns whether Velodyne has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 22, 2021, Velodyne Lidar announced that it was immediately replacing David Hall, the Company's founder and former Chairman of the Board of Directors, and Marta Thoma Hall, the Company's former Chief Marketing Officer. In this announcement, Velodyne Lidar wrote that these moves followed an investigation led by the Company's Audit Committee and aided by Keker, Van Nest & Peters LLP that began in December 2020. Velodyne Lidar's announcement continued that "[t]he investigation concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors." In addition, Velodyne Lidar's Board of Directors formally censured Mr. Hall and Ms. Hall.
On this news the company’s stock price fell by $3.14 per share, to close at $17.97 per share on February 22, 2021.
If you purchased or otherwise acquired Velodyne Lidar 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, Melissa Fortunato, or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. 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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