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DEADLINE ALERT for FUV, PRVB, WPG, SPCE: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders

·4-min read

BENSALEM, Pa., June 17, 2021 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

Arcimoto, Inc. (NASDAQ: FUV)
Class Period: February 14, 2018 – March 22, 2021
Lead Plaintiff Deadline: June 18, 2021

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the preorders of Arcimotos Fun Utility Vehicles (FUVs) were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422; (2) Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall; (3) Arcimotos largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; and (4) Arcimotos partnership with HULA was an undisclosed related party transaction; (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Provention Bio, Inc. (NASDAQ: PRVB)
Class Period: November 2, 2020 - April 8, 2021
Lead Plaintiff Deadline: July 20, 2021

Investors with losses exceeding $100,000 are encouraged to contact the firm

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the teplizumab BLA was deficient in its submitted form and would require additional data to secure FDA approval; (2) accordingly, the teplizumab BLA lacked the evidentiary support the Company had led investors to believe it possessed; (3) the Company had thus overstated the teplizumab BLA's approval prospects and hence the commercialization timeline for teplizumab; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Washington Prime Group, Inc. (NYSE: WPG)
Class Period: November 5, 2020 - March 4, 2021
Lead Plaintiff Deadline: July 23, 2021

Investors with losses exceeding $250,000 are encouraged to contact the firm

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that WPG’s financial condition was deteriorating substantially; (2) that, as a result, there was substantial uncertainty about the Company’s ability to meet its capital structure obligations as they became due; and (3) that, 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.

Virgin Galactic Holdings, Inc. (NYSE: SPCE)
Class Period: October 26, 2019 - April 30, 2021
Lead Plaintiff Deadline: July 27, 2021

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) for accounting purposes, SCH's warrants were required to be treated as liabilities rather than equities; (2) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (3) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the Business Combination; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com


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