A lawsuit was filed on behalf of investors in Arcimoto Inc (NASDAQ:FUV) shares over alleged securities laws violations.
San Diego, CA -- (ReleaseWire) -- 04/03/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Arcimoto Inc (NASDAQ:FUV), filed a lawsuit over alleged violations of Securities Laws by Arcimoto Inc in connection with the company's initial public offering ("IPO") on September 21, 2017.
Investors who purchased a shares of Arcimoto Inc (NASDAQ:FUV) have certain options and for certain investors are short and you should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Yhe plaintiff alleges that the defendants violated Securities Laws. More specifically, the plaintiff claims that Arcimoto materially misled the investing public regarding its ability to deliver vehicles to paying customers and failed to disclose that commercial production was not feasible due to the company's inability to produce a safe, reliable, and properly working product.
The plaintiff alleges that following the IPO, investors learned that Arcimoto had only delivered one vehicle to a paying customer during the second half of 2017 and was in no position to begin mass production as it had no facility capable of scaled production.
Those who purchased shares of Arcimoto Inc (NASDAQ:FUV) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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