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Shafer v. Lightning eMotors, Inc et al
Case Number:
1:21-cv-02774
Court:
Nature of Suit:
Securities, Commodities, Exchange
Multi Party Litigation:
Class Action
Judge:
Firms
- DLA Piper
- Faruqi & Faruqi
- Freshfields
- Glancy Prongay
- Johnson Fistel
- Levi & Korsinsky
- Pomerantz LLP
- Robbins Geller
Companies
Sectors & Industries:
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July 24, 2024
EV Co. Scores Initial OK On $13M Deal To End Investor Suits
A Colorado federal judge has granted preliminary approval to a $13.3 million settlement resolving shareholder lawsuits against commercial electric-vehicle company Lightning eMotors, whose executives and directors had been accused of touting unrealistic growth projections in the lead-up to a 2021 merger.
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March 27, 2024
Colo. Judge Unplugs Vague EV-Maker Investor Suit
A Colorado federal judge has dismissed a shareholder suit against commercial electric vehicle company Lightning eMotors, agreeing with a magistrate judge's conclusion that the shareholders failed to bring specific allegations that the company knowingly misled investors on matters like its production capacity.
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February 21, 2024
Judge Suggests EV-Maker Investor Suit Too Vague To Survive
A Colorado federal magistrate judge has recommended the dismissal of a shareholder suit against commercial electric vehicle company Lightning eMotors, finding the shareholders failed to bring specific allegations that the company knowingly misled investors on matters like its production capacity and its business relationship with Amazon.
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December 07, 2023
EV Co.'s SPAC Suit Gets Initial OK For $1.9M Settlement
A Colorado federal judge has granted initial approval to a $1.9 million settlement of a shareholder derivative suit on behalf of commercial electric vehicle company Lightning eMotors that alleged its executives and directors made false and misleading claims about the company's future production capacity and potential revenue.
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June 15, 2023
Colo. EV Maker Says It's Accused Of 'Fraud By Hindsight'
Commercial electric-vehicle company Lightning eMotors has urged a Colorado federal judge to toss a shareholder suit alleging company leadership made false or misleading claims about future production capacity, arguing the investors behind the suit "fault defendants for failing to predict the future."
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February 27, 2023
Shareholder SPAC Spat Ensnares Commercial EV Co.
Commercial electric vehicle company Lightning eMotors has been hit with a shareholder derivative suit in Colorado federal court, alleging its executives and directors made false and misleading claims in a proxy statement and elsewhere about Lightning's future production capacity and potential revenue.