|Company Name||Churchill Capital Corp IV|
|Class Period||January 11, 2021 to February 22, 2021|
|Motion Deadline||June 28, 2021|
The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Churchill Capital Corp IV (NYSE: CCIV). Investors who purchased CCIV stock or other securities between January 11, 2021 and February 22, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email email@example.com or call 617-531-3917.
The complaint alleges that on February 22, 2021, a merger agreement was announced between Churchill, a special purpose acquisition company and Lucid, an American automotive company specializing in electric cars. The transaction equity value was estimated at $11.75 billion. Churchill's share price closed at $57.37. It is alleged that Lucid announced the production of its debut car would be delayed until at least the second half of 2021, with no definite date set for delivery of an actual vehicle. It is also alleged that Lucid was projecting the production of only 557 vehicles in 2021, rather than the 6,000 it had been touting before the merger announcement.
The case is currently in the lead plaintiff stage. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
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A class action lawsuit has been filed on behalf of investors in Churchill Capital Corp IV (CCIV) securities.
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