SAN DIEGO, May 04, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Canoo Inc. (NASDAQ: GOEV) shares.
Investors, who purchased shares of Canoo Inc. (NASDAQ: GOEV) prior to August 2020 and continue to hold any of their NASDAQ: GOEV shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 2, 2021, a lawsuit was filed against Canoo Inc. f/k/a Hennessy Capital Acquisition Corp. IV. over alleged violations of securities laws. The plaintiff alleged that prior to and after the combination between Hennessy Capital Acquisition Corp. IV and Canoo Inc Holdings Limited in December 2020, the Company promoted a business model based on a three-phased approach to generating revenue and growth, that an engineering services segment, that the sales of subscriptions to vehicles to consumers, and that the sale of vehicles to other businesses.
However, the plaintiff claims that the Defendants misled investors by misrepresenting and/or failing to disclose that the Company's engineering services segment was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk, that the Company would no longer be focused on its subscription-based business model, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased Canoo Inc. (NASDAQ: GOEV) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.