An investigation on behalf of current long term investors in Embark Technology, Inc. (NASDAQ:EMBK) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/12/2022 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Embark Technology, Inc.
Investors who are current long term investors in Embark Technology, Inc. (NASDAQ: EMBK) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: EMBK stocks follows a lawsuit filed against Embark Technology, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: EMBK stocks, concerns whether certain Embark Technology, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that the Company had performed inadequate due diligence into Legacy Embark, that Legacy Embark and the Company following the Business Combination held no patents and an insignificant amount of test trucks, that accordingly, the Company had overstated its operational and technological capabilities, that as a result of all the foregoing, the Company had overstated the business and financial prospects of the Company post-Business Combination, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Embark Technology, Inc. (NASDAQ: EMBK) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.