{"id":456144,"date":"2021-03-11T11:03:35","date_gmt":"2021-03-11T16:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456144"},"modified":"2021-03-11T11:03:35","modified_gmt":"2021-03-11T16:03:35","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-velodyne-lidar-inc-vldr","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-velodyne-lidar-inc-vldr\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Velodyne Lidar, Inc. (VLDR)"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, March 11, 2021<\/span> \/PRNewswire\/ — Glancy Prongay<\/span> & Murray LLP<\/a> (“GPM”) reminds investors of the upcoming\u00a0May 3<\/span>, 2021\u00a0<\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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”).<\/p>\n

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

If you suffered a loss on your Velodyne investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/velodyne-lidar-inc\/<\/a>. \u00a0You can also contact Charles H. Linehan<\/span>, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/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: (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 LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired Velodyne securities\u00a0during the Class Period, you may move the Court no later than\u00a0May 3, 2021<\/span><\/b>\u00a0to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire<\/span>, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California<\/span> 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If 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\/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-velodyne-lidar-inc-vldr-301245745.html<\/a><\/p>\n

SOURCE Glancy Prongay<\/span> & Murray LLP<\/p>\n<\/p><\/div>\n

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

PR Newswire LOS ANGELES, March 11, 2021 \/PRNewswire\/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0May 3, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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”). If you suffered a loss on your Velodyne investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/velodyne-lidar-inc\/. \u00a0You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Velodyne Lidar, Inc. (VLDR)”<\/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-456144","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Velodyne Lidar, Inc. 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