The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Velodyne Lidar, Inc. (NASDAQ: VLDR) who purchased shares between November 9, 2020 and July 2, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Velodyne Lidar lawsuit alleges that (1) certain of Velodyne’s directors had failed to operate with respect, honesty, integrity, and candor in their dealings with the Company’s officers and directors; (2) the Company was investigating the foregoing matters; and (3) 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.
Shareholders have until May 3, 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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