|Company Name||Romeo Power, Inc.|
|Class Period||October 5, 2020 to March 30, 2021|
|Motion Deadline||June 15, 2021|
The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Romeo Power, Inc. (NYSE: RMO). The case is currently in the lead plaintiff stage. Investors who purchased RMO stock or other securities between October 5, 2020 and March 30, 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 case alleges that Romeo Power and its senior executives made misleading statements to investors and failed to disclose that: (i) Romeo Power had only two battery cell suppliers, not four; (ii) the future potential risks that defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo Power’s business, operations, and prospects; (iii) Romeo Power did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021; (iv) Romeo Power’s supply constraint was a material hindrance to Romeo Power’s revenue growth; and (v) Romeo Power’s supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. It is alleged that given the supply constraint Romeo Power had no reasonable basis to represent that it had the ability to meet customer demand and that it would support growth in revenue in 2021.
Interested Romeo Power investors have until June 15, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. 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.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
A class action lawsuit has been filed on behalf of investors in Romeo Power, Inc. (RMO) securities.
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