SHAREHOLDER ALERT: Barr Law Group Investigating GOGO, GOEV, ACIC, and FIII; Shareholders are Encouraged to Contact the Firm

San Diego, California, UNITED STATES


SAN DIEGO, May 25, 2021 (GLOBE NEWSWIRE) -- National law firm Barr Law Group is investigating the actions of the officers and board of directors of Gogo Inc., Canoo Inc., Atlas Crest Investment Corp., and Forum Merger III Corporation.   If you are a current owner of shares of any of these stocks, contact leo@barrlaw.com or call (619) 400-4966.

Gogo Inc. (NASDAQ: GOGO) Accused of Misleading Investors

Barr Law Group is investigating Gogo Inc. regarding possible breaches of fiduciary duties and other violations of law by the company’s officers and directors.  On April 26, 2021, U.S. District Judge Jorge L. Alonso of the United States District Court for the Northern District of Illinois issued an order denying the defendants’ motion to dismiss in the pending securities class action, paving the way for litigation to proceed. According to the complaint against Gogo for alleged violations of the Securities Exchange Act of 1934, the company’s 2Ku antenna suffered from manufacturing, software, and reliability issues due to de-icing fluids from planes infiltrating the 2Ku system. As a result of the many problems with the 2Ku antenna, Gogo was unable to meet its previously issued 2018 guidance. On May 4, 2018, Gogo discussed the financial impact of the de-icing issues, revealing that it anticipated adjusted EBITDA to be lower than expected due to increased costs and lost revenue related to the 2Ku implementation challenges.   According to the lawsuit, the May 2018 disclosure caused Gogo's allegedly artificially inflated stock price to plummet, damaging investors. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Canoo Inc. (NASDAQ: GOEV, GOEVW) Accused of Misleading Investors

Barr Law Group is investigating Canoo Inc. regarding possible breaches of fiduciary duties and other violations of law by the company’s officers and directors.  Investors of Canoo Inc. (f/k/a Hennessy Capital Acquisition Corp. IV) filed a class action complaint against the company for alleged violations of the Securities Exchange Act of 1934. Canoo Holdings Ltd., an electric vehicle company, became a public entity via merger with Hennessy Capital, a special purchase acquisition company, on December 21, 2020. According the complaint, investors were misled about Hennessy's initial public offering and merger with Canoo, the company’s operations, and business prospects. On March 29, 2021, after the market closed, Canoo revealed the Company would no longer focus on its engineering services line, which had been touted in the merger documents just three months earlier. Discussions during the press conference also revealed that Canoo had decreased its focus on its plan to sell vehicles to consumers through a subscription model, and that contrary to prior statements Canoo did not have partnerships with original equipment manufacturers and no longer engaged in the previously announced partnership with Hyundai. On this news, Canoo's stock price fell $2.50, or over 21%, to close at $9.30 per share on March 30, 2021. The stock has continued to plummet and now trades at less than $8.00 per share. Canoo is also the subject of an investigation by the U.S. Securities and Exchange Commission. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Atlas Crest Investment Corp. (NYSE: ACIC) Shareholder Rights Investigation

Barr Law Group is investigating Atlas Crest Investment Corp. regarding possible breaches of fiduciary duties and other violations of law relating to its proposed merger with Archer Aviation, Inc. In connection with the merger agreement, Atlas Crest, a special purpose acquisition company, will combine with Archer and result in Archer becoming a publicly-listed company. Under the terms of the agreement, Atlas Crest shareholders will retain ownership of 13% of the combined company. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Forum Merger III Corporation (NASDAQ: FIII) Shareholder Rights Investigation

Barr Law Group is investigating Forum Merger III Corporation regarding possible breaches of fiduciary duties and other violations of law relating to its proposed merger with Electric Last Mile, Inc. In connection with the merger agreement, Forum will combine with Electric Last Mile and result in Electric Last Mile becoming a publicly-listed company. Under the terms of the agreement, Forum shareholders will retain ownership of 17.6% of the combined company. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.

Concerned shareholders are encouraged to contact Leo Kandinov to learn more:

leo@barrlaw.com
(619) 400-4966
www.barrlaw.com

Barr Law Group is a boutique law firm consisting of highly experienced and specialized litigators who represent investors in securities litigation and corporate governance matters. The firm would be happy to further discuss these matters, and any legal rights or remedies potentially available to you, at no charge.

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Contact:

Leo Kandinov, Partner
leo@barrlaw.com
619-400-4966
501 W Broadway Suite 800
San Diego, CA 92101
www.barrlaw.com