The Klein Law Firm announces that a complaint has been filed on behalf of shareholders of NIO Inc. ("NIO") (NYSE: NIO) who purchased American Depositary Shares between September 12, 2018 and March 5, 2019.
The complaint alleges that NIO made materially false and/or misleading statements and/or failed to disclose that (1) 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; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) 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.
If you suffered a loss in NIO you have until May 13, 2019 to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require you serve as a lead plaintiff.
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