The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canoo Inc. (NASDAQ: GOEV) who purchased shares between August 18, 2020 and March 29, 2021. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Canoo lawsuit alleges that (i) the Company’s engineering services was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk; (ii) the Company would no longer be focused on its subscription-based business model; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 1, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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