{"id":471224,"date":"2021-04-05T21:03:09","date_gmt":"2021-04-06T01:03:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471224"},"modified":"2021-04-05T21:03:09","modified_gmt":"2021-04-06T01:03:09","slug":"canoo-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-canoo-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/canoo-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-canoo-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"CANOO ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Canoo, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

CANOO ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Canoo, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors that purchased Canoo, Inc. (NASDAQ: GOEV) securities between August 18, 2020 and March 29, 2021, inclusive (the \u201cClass Period\u201d). Investors have until June 1, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nCanoo was formed by a business combination between Hennessy Capital Acquisition Corp. IV (a special purpose acquisition (SPAC) company) and Canoo Holdings Limited in December 2020. The Company is a mobile technology company that develops electric vehicles. The complaint, filed on April 2, 2021, alleges that prior to and after the combination, the Company promoted a business model based on a three-phased approach to generating revenue and growth: (i) an engineering services segment, (ii) the sales of subscriptions to vehicles to consumers, and (iii) the sale of vehicles to other businesses.\n<\/p>\n

\nOn March 29, 2021, the Company revealed that it was radically changing its business model by deemphasizing its engineering services business and by no longer focusing on its subscription-based business.\n<\/p>\n

\nIn response to this news, shares of Canoo fell $2.50 (or $21.2%) from a March 29, 2021 close of $11.80 per share to close at $9.30 per share on March 30, 2021.\n<\/p>\n

\nThe complaint further alleges that defendants misled investors by misrepresenting and\/or failing to disclose that: (i) the Company\u2019s engineering services segment was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk; (ii) that the Company would no longer be focused on its subscription-based business model; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.\n<\/p>\n

\nIf you purchased Canoo securities during the Class Period and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:<\/b><\/p>\n

\nBragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210405005364\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

CANOO ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Canoo, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors that purchased Canoo, Inc. (NASDAQ: GOEV) securities between August 18, 2020 and March 29, 2021, inclusive (the \u201cClass Period\u201d). Investors have until June 1, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. Canoo was formed by a business combination between … <\/p>\n

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