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NEW YORK, April 12, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Canoo Inc. (“GOEV” or the “Company”) (NASDAQ: GOEV). If you are a shareholder of Canoo with more than $300,000 in losses, you should contact the Firm.
On March 29, 2021, Canoo announced its fourth quarter and full year 2020 financial results in a press release, reporting a net loss of $89.9 million for the year. The Company also announced that its Chief Financial Officer had resigned.
The same day, The Verge released an article entitled "Canoo's deal with Hyundai appears dead: The startup's [sic] also changed its tune on selling EV tech to big companies." The article stated that "[w]hen pressed on the startup's previous claims," the current chairman pointed to its prior leadership and said "they were a little more aggressive" and "that talk of potential partnerships was 'presumptuous.'" Lastly, the article noted that "Canoo quietly uploaded a new investor presentation to its investor relations website on Monday that no longer mentions Hyundai."
On this news, the Company's stock price fell $2.50 per share, or 21%, to close at $9.30 per share on March 30, 2021, thereby injuring investors.
A class action lawsuit has already been filed. If you are a shareholder of GOEV who purchased or otherwise acquired Canoo securities between August 18, 2020 and March 29, 2021, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at firstname.lastname@example.org. If you suffered a loss in Canoo you have until June 1, 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.
Whistleblowers: Persons with non-public information regarding GOEV should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Lowey Dannenberg P.C.
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Tel: (914) 733-7256