Levi & Korsinsky, LLP announces that an NIO class action lawsuit has been filed on behalf of investors who purchased NIO Inc. (NIO) securities between March 1, 2021, and July 11, 2022. For more on the NIO Lawsuit please contact us today.
According to the NIO lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) NIO pulled forward revenue by selling batteries to a related party, which owned the batteries and managed users’ subscriptions; (2) through the related party, NIO also recognized enormous depreciation savings; (3) as a result of the foregoing, the Company’s revenue and net loss were overstated; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis
If you suffered a loss in NIO you have until October 24, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171