NEW YORK, April 05, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that class action lawsuits have been filed in the U.S. District Courts for the Northern District of California and the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired NIO Inc. (NYSE: NIO) securities between September 12, 2018 and March 5, 2019 (the “Class Period”). Investors have until May 11, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on a little-known Chinese state-owned auto manufacturer, JAC Auto, to manufacture its electric vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times.
If you purchased NIO securities during the Class Period or continue to hold shares purchased before the Class Period, 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 Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the NIO lawsuit, please go to https://bespc.com/nio/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.