{"id":453966,"date":"2021-03-09T11:03:17","date_gmt":"2021-03-09T16:03:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453966"},"modified":"2021-03-09T11:03:17","modified_gmt":"2021-03-09T16:03:17","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-velodyne-lidar-inc-vldr-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-velodyne-lidar-inc-vldr-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Velodyne Lidar, Inc. (VLDR) Investors"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, March 9, 2021<\/span> \/PRNewswire\/ —\u00a0The Law Offices of Frank R. Cruz<\/span><\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Velodyne Lidar, Inc. (“Velodyne” or “the Company”) (NASDAQ: VLDR) securities between \u202fNovember 9, 2020<\/span> and February 19, 2021<\/span>,<\/b> inclusive (the “Class Period”). Velodyne investors have until May 3, 2021<\/span><\/b>to file a lead plaintiff motion.<\/p>\n

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\n \"(PRNewsfoto\/The
\n <\/a>\n <\/p>\n<\/p><\/div>\n

If you are a shareholder who suffered a loss, click here<\/a> to participate.<\/p>\n

On February 22, 2021<\/span>, Velodyne announced that the Board had “removed David Hall<\/span> as Chairman of the Board and terminated Marta Hall’s<\/span> employment as Chief Marketing Officer of the Company” after the Audit Committee’s investigation “concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors.” In addition, the Company announced that Velodyne’s Board formally censured Mr. Hall and Ms. Hall, but that they would remain directors of Velodyne.<\/p>\n

On this news, Velodyne’s common stock fell $3.14<\/span>, or approximately 15%, to close at $17.97<\/span> per share on February 22, 2021<\/span>, on unusually heavy trading volume. Additionally, Velodyne’s warrants fell $1.47<\/span>, or approximately 20%, to close at $5.90<\/span> per warrant on February 22, 2021<\/span>.<\/p>\n

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 that: (1) that 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) that the Company was investigating the foregoing matters; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and\/or lacked reasonable basis at all relevant times.<\/p>\n

Follow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.<\/p>\n

If you purchased Velodyne securities during the Class Period, you may move the Court no later than May 3, 2021<\/span><\/b>to ask the Court to appoint you as lead plaintiff.\u00a0 To be a member of the Class 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.\u00a0 If you purchased Velodyne securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz<\/span>, of The Law Offices of Frank R. Cruz<\/span>, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California<\/span> 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. \u00a0If you inquire by email please include your mailing address, telephone number, and number of shares purchased.<\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-velodyne-lidar-inc-vldr-investors-301242278.html<\/a><\/p>\n

SOURCE The Law Offices of Frank R. Cruz<\/span>, Los Angeles<\/span><\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire LOS ANGELES, March 9, 2021 \/PRNewswire\/ —\u00a0The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Velodyne Lidar, Inc. (“Velodyne” or “the Company”) (NASDAQ: VLDR) securities between \u202fNovember 9, 2020 and February 19, 2021, inclusive (the “Class Period”). Velodyne investors have until May 3, 2021to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On February 22, 2021, Velodyne announced that the Board had “removed David Hall as Chairman of the Board and terminated Marta Hall’s employment as Chief Marketing Officer of the Company” after the Audit Committee’s investigation “concluded that Mr. … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Velodyne Lidar, Inc. (VLDR) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-453966","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Velodyne Lidar, Inc. 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(“Velodyne” or “the Company”) (NASDAQ: VLDR) securities between \u202fNovember 9, 2020 and February 19, 2021, inclusive (the “Class Period”). Velodyne investors have until May 3, 2021to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On February 22, 2021, Velodyne announced that the Board had “removed David Hall as Chairman of the Board and terminated Marta Hall’s employment as Chief Marketing Officer of the Company” after the Audit Committee’s investigation “concluded that Mr. … Continue reading "The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Velodyne Lidar, Inc. 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