An investigation on behalf of current long term investors in Arcimoto, Inc. (NASDAQ:FUV) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/25/2021 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Arcimoto, Inc..
Investors who are current long term investors in Arcimoto, Inc. (NASDAQ: FUV) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: FUV stocks follows a lawsuit filed against Arcimoto, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in ASDAQ: FUV stocks, concerns whether certain Arcimoto 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 preorders of Arcimoto's Fun Utility Vehicles ("FUVs") were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422, that Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall, that Arcimoto's largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC, that Arcimoto's partnership with HULA was an undisclosed related party transaction, and that as a result, defendants' public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Arcimoto, Inc. (NASDAQ: FUV) have certain options and should contact the Shareholders Foundation.
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