An investigation for investors in Arcimoto, Inc. (NASDAQ:FUV) shares over potential securities laws violations by Arcimoto, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/12/2021 -- Arcimoto, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Arcimoto, Inc. (NASDAQ: FUV), 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 focuses on whether a series of statements by Arcimoto, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Arcimoto, Inc. designs, develops, manufactures, and sells three-wheeled electric vehicles. On March 23, 2021, Bonitas Research published a short-seller report on Arcimoto, Inc.. In the report, Bonitas alleges that Arcimoto, Inc. fabricated pre-orders to generate fake demand, only delivered on 19 of the 422 alleged pre-orders since 2018, sold a 13 of the 19 pre-orders to an undisclosed related party, and failed to notify customers that Arcimoto filed a total production recall notice with the United States Government's federal agency, the National Highway Traffic Safety Administration.
Those who purchased shares of Arcimoto, Inc. (NASDAQ: FUV) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
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.