{"id":473742,"date":"2021-04-08T14:29:14","date_gmt":"2021-04-08T18:29:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473742"},"modified":"2021-04-08T14:29:14","modified_gmt":"2021-04-08T18:29:14","slug":"shareholder-alert-robbins-llp-announces-that-canoo-inc-goev-is-being-sued-for-misleading-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-robbins-llp-announces-that-canoo-inc-goev-is-being-sued-for-misleading-shareholders\/","title":{"rendered":"SHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. (GOEV) is Being Sued for Misleading Shareholders"},"content":{"rendered":"

<\/p>\n

SHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. (GOEV) is Being Sued for Misleading Shareholders<\/b><\/p>\n

SAN DIEGO & TORRANCE, Calif.–(BUSINESS WIRE<\/a>)–
\nShareholder rights law firm Robbins LLP<\/a> announces that a purchaser of Canoo Inc. (f\/k\/a Hennessy Capital Acquisition Corp. IV) (NASDAQ: GOEV, GOEVW) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between August 18, 2020 and March 29, 2021.\n<\/p>\n

\nIf you suffered a loss due to Canoo Inc.’s misconduct, click here<\/a>.\n<\/p>\n

Canoo Inc. (GOEV) Misled Investors Regarding its Business Model <\/i><\/b><\/p>\n

\nAccording to the complaint, Canoo Holdings Ltd., an electric vehicle company, became a public entity via merger with Hennessy Capital, a special purchase acquisition company, on December 21, 2020. The companies announced the merger on August 18, 2020, filing its Registration Statement on Form S-1 with the SEC the same day. The Registration Statement touted Canoo’s engineering and technology services, noting that “[t]his business offers a unique opportunity to generate immediate revenues in advance of the offering of our first vehicle and our current pipeline in this area is supportive of a projected $120 million of revenue in 2021.” The Registration Statement noted that Canoo’s “[c]ontract engineering services offer a separate revenue stream” and that its engineering services were considered a “positive factor” supporting the merger.\n<\/p>\n

\nOn March 29, 2021, after the market closed, Canoo revealed the Company would no longer focus on its engineering services line, which had been touted in the merger documents just three months earlier and formed the basis of Canoo’s growth story. Discussions during the press conference also revealed that Canoo had decreased its focus on its plan to sell vehicles to consumers through a subscription model, and that contrary to prior statements Canoo did not have partnerships with original equipment manufacturers and no longer engaged in the previously announced partnership with Hyundai.\n<\/p>\n

\nOn this news, Canoo’s stock price fell $2.50, or over 21%, to close at $9.30 per share on March 30, 2021.\n<\/p>\n

If you purchased shares of Canoo Inc. (GOEV) between August 18, 2020 and March 29, 2021, you have until June 1, 2021, to ask the court to appoint you lead plaintiff for the class.<\/i><\/b><\/p>\n

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. <\/i><\/b><\/p>\n

\nContact us to learn more:
\n
Lauren Levi
\n
(800) 350-6003
\n
llevi@robbinsllp.com
\n<\/a>
Shareholder Information Form<\/a><\/p>\n

\nRobbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Canoo Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch<\/a> today.\n<\/p>\n

\nAttorney Advertising. Past results do not guarantee a similar outcome.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210408005877\/en\/<\/a><\/span><\/p>\n

\nLauren Levi
\n
Robbins LLP
\n
5040 Shoreham Place
\n
San Diego, CA 92122
\n
llevi@robbinsllp.com
\n<\/a>
(800) 350-6003
\n
www.robbinsllp.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/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":"

SHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. (GOEV) is Being Sued for Misleading Shareholders SAN DIEGO & TORRANCE, Calif.–(BUSINESS WIRE)– Shareholder rights law firm Robbins LLP announces that a purchaser of Canoo Inc. (f\/k\/a Hennessy Capital Acquisition Corp. IV) (NASDAQ: GOEV, GOEVW) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between August 18, 2020 and March 29, 2021. If you suffered a loss due to Canoo Inc.’s misconduct, click here. Canoo Inc. (GOEV) Misled Investors Regarding its Business Model According to the complaint, Canoo Holdings Ltd., an electric vehicle company, became a public entity via merger with Hennessy Capital, a special purchase acquisition company, … <\/p>\n

Continue reading “SHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. (GOEV) is Being Sued for Misleading Shareholders”<\/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-473742","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. 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IV) (NASDAQ: GOEV, GOEVW) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between August 18, 2020 and March 29, 2021. If you suffered a loss due to Canoo Inc.’s misconduct, click here. Canoo Inc. (GOEV) Misled Investors Regarding its Business Model According to the complaint, Canoo Holdings Ltd., an electric vehicle company, became a public entity via merger with Hennessy Capital, a special purchase acquisition company, … Continue reading "SHAREHOLDER ALERT: Robbins LLP Announces That Canoo Inc. 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