{"id":499804,"date":"2021-06-01T06:35:13","date_gmt":"2021-06-01T10:35:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\/"},"modified":"2021-06-01T06:35:13","modified_gmt":"2021-06-01T10:35:13","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\/","title":{"rendered":"SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; FUV"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">June 1, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against Arcimoto Inc. (&#8220;Arcimoto&#8221; or the &#8220;Company&#8221;) (NASDAQ: FUV) and certain of its officers.\u00a0The class action, filed in <span class=\"xn-location\">the United States<\/span> District Court for the Eastern District of <span class=\"xn-location\">New York<\/span>, and docketed under 21-cv-02870, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Arcimoto between <span class=\"xn-chron\">February 14, 2018<\/span> and <span class=\"xn-chron\">March 22, 2021<\/span>, both dates inclusive (the &#8220;Class Period&#8221;).\u00a0Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.jpg\" title=\"Fighting for victims of securities fraud for more than 85 years (PRNewsfoto\/Pomerantz LLP)\" alt=\"Fighting for victims of securities fraud for more than 85 years (PRNewsfoto\/Pomerantz LLP)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>If you are a shareholder who purchased Arcimoto securities during the Class Period, you have until <span class=\"xn-chron\">June 18, 2021<\/span> to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0A copy of the Complaint can be obtained at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-12&amp;h=1349974002&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener\">www.pomerantzlaw.com<\/a>.\u00a0To discuss this action, contact <span class=\"xn-person\">Robert S. Willoughby<\/span> at <a target=\"_blank\" href=\"mailto:newaction@pomlaw.com\" rel=\"nofollow noopener\">newaction@pomlaw.com<\/a> or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0 <\/p>\n<p class=\"prntac\">\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-12&amp;h=3662851849&amp;u=https%3A%2F%2Fpomlaw.com%2Flearn-more-form%3Fcompany%3DFUV&amp;a=%5BClick+here+for+information+about+joining+the+class+action%5D\" rel=\"nofollow noopener\">[Click here for information about joining the class action]<\/a>\n      <\/p>\n<p>Arcimoto is purportedly engaged in the business of manufacturing ultra-efficient three-wheeled electric vehicles.\u00a0The Company&#8217;s products include the Fun Utility Vehicle (&#8220;FUV&#8221;).<\/p>\n<p>The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company&#8217;s business, operations, and compliance policies.\u00a0 Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) the preorders of Arcimoto&#8217;s FUVs were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422; (ii) Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall; (iii) Arcimoto&#8217;s largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; (iv) Arcimoto&#8217;s partnership with HULA was an undisclosed related party transaction; and (v) as a result, defendants&#8217; public statements were materially false and\/or misleading at all relevant times.<\/p>\n<p>On <span class=\"xn-chron\">March 23, 2021<\/span>, Bonitas Research (&#8220;Bonitas&#8221;) published a short-seller report addressing Arcimoto. In the report, Bonitas alleged that Arcimoto fabricated pre-orders to generate fake demand, only delivered on 19 of the 422 alleged pre-orders since 2018, sold 13 of these 19 pre-orders to an undisclosed related party, and failed to notify customers that Arcimoto had filed a total production recall notice with the the National Highway Traffic Safety Administration.\u00a0 <\/p>\n<p>Following publication of the Bonitas report, Arcimoto&#8217;s stock price fell <span class=\"xn-money\">$1.10<\/span> per share, or approximately 6.56%, to close at <span class=\"xn-money\">$15.67<\/span> per share on <span class=\"xn-chron\">March 23, 2021<\/span>.<\/p>\n<p>The Pomerantz Firm, with offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Chicago<\/span>, <span class=\"xn-location\">Los Angeles<\/span>, and <span class=\"xn-location\">Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late <span class=\"xn-person\">Abraham L. Pomerantz<\/span>, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-12&amp;h=1349974002&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener\">www.pomerantzlaw.com<\/a>.<\/p>\n<p>\n        <b>CONTACT:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Robert S. Willoughby<\/span><br \/>\n        <br \/>Pomerantz LLP<br \/><a target=\"_blank\" href=\"mailto:rswilloughby@pomlaw.com\" rel=\"nofollow noopener\">rswilloughby@pomlaw.com<\/a><br \/>888-476-6529 ext. 7980<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=MN95944&amp;sd=2021-06-01\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline--fuv-301302703.html\">http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert&#8211;pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline&#8211;fuv-301302703.html<\/a><\/p>\n<p>SOURCE  Pomerantz LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=MN95944&amp;Transmission_Id=202106010631PR_NEWS_USPR_____MN95944&amp;DateId=20210601\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, June 1, 2021 \/PRNewswire\/ &#8212;\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against Arcimoto Inc. (&#8220;Arcimoto&#8221; or the &#8220;Company&#8221;) (NASDAQ: FUV) and certain of its officers.\u00a0The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02870, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Arcimoto between February 14, 2018 and March 22, 2021, both dates inclusive (the &#8220;Class Period&#8221;).\u00a0Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). If you are &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; FUV&#8221;<\/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-499804","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline - FUV - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline - FUV - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, June 1, 2021 \/PRNewswire\/ &#8212;\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against Arcimoto Inc. (&#8220;Arcimoto&#8221; or the &#8220;Company&#8221;) (NASDAQ: FUV) and certain of its officers.\u00a0The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02870, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Arcimoto between February 14, 2018 and March 22, 2021, both dates inclusive (the &#8220;Class Period&#8221;).\u00a0Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). If you are &hellip; Continue reading &quot;SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; FUV&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-01T10:35:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-arcimoto-inc-of-class-action-lawsuit-and-upcoming-deadline-fuv\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Arcimoto Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; 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(&#8220;Arcimoto&#8221; or the &#8220;Company&#8221;) (NASDAQ: FUV) and certain of its officers.\u00a0The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02870, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Arcimoto between February 14, 2018 and March 22, 2021, both dates inclusive (the &#8220;Class Period&#8221;).\u00a0Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). 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