Class Action Reports

RMO Class Action: Learn About the Romeo Power Lawsuit

Levi & Korsinsky, LLP

April 23, 2021

Levi & Korsinsky, LLP announces that an RMO class action lawsuit has been filed on behalf of investors who purchased Romeo Power, Inc. (RMO) securities between October 5, 2020, and March 30, 2021. For more on the RMO Lawsuit please contact us today.

 

According to the Romeo Power lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo’s business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo’s supply constraint was a material hindrance to Romeo’s revenue growth, and (v) Romeo’s supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.

 

TO LEARN MORE ABOUT THE RMO CLASS ACTION LAWSUIT, CLICK HERE

 

If you suffered a loss in Romeo Power you have until June 15, 2021, 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

www.zlk.com