Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Archer Aviation, Inc. (“Archer” or the “Company”) (NYSE: ACHR) investors that a lawsuit filed on behalf of investors that purchased Archer securities between September 17, 2021 and August 15, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Archer, a company focused on designing and developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility networks, began trading publicly in September 2021 through a business combination with Atlas Crest Investment Corp. Archer consistently emphasized the effectiveness of its eVTOL aircraft design, flight testing, business partnerships, and its ability to obtain regulatory certification from the Federal Aviation Administration (FAA) for mass aircraft production. However, a complaint alleges that the company made false and misleading statements throughout this period. It is claimed that Archer relied on edited flight videos to exaggerate testing, misrepresented the nature and profitability of partnerships, and was unlikely to obtain FAA certification as stated, leading to overstatement of its financial position. On August 16, 2023, a report by Grizzly Research highlighted these issues, causing Archer's stock price to drop by 6.46%.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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