A lawsuit was filed on behalf of investors in NIO Inc. (NYSE: NIO) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/27/2019 -- An investor, who purchased shares of NIO Inc. (NYSE: NIO), filed a lawsuit over alleged violations of Federal Securities Laws by NIO Inc..
Investors who purchased shares of NIO Inc. (NYSE: NIO) have certain options and for certain investors are short and strict deadlines running. Deadline: May 13, 2019. NIO Inc. (NYSE: NIO investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On March 6, 2019, NIO Inc. (NYSE: NIO) filed a Form with the U.S. Securities and Exchange Commission announcing its fourth quarter and full year 2018 financial results. The Form revealed that: (1) NIO agreed in principle to terminate its plan for a manufacturing plant; and (2) deliveries of its flagship electric SUV slowed more than expected due to "accelerated deliveries made at the end of last year in anticipation of EV subsidy reductions in China in 2019, as well as the seasonal slowdowns surrounding the January 1st and Chinese New Year holidays." NIO continued, "We also expect deliveries in the second quarter 2019 to reflect continued weakness as we await the results of the 2019 EV subsidy policy in China and improvement in the macro-economic conditions."
The plaintiff claims that between September 12, 2018 and March 5, 2019, the defendants made false and/or misleading statements and/or failed to disclose that 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, that reductions in government subsidies for electric cars would materially impact NIO's sales, and that as a result, defendants' statements about NIO's business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of NIO Inc. (NYSE: NIO) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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