San Diego, CA -- (SBWIRE) -- 04/20/2023 -- Luminar Technologies, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Luminar Technologies, Inc. (NASDAQ: LAZR), 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 Luminar Technologies, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Orlando, FL based Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. Luminar Technologies, Inc. reported that its annual Total Revenue rose from $31.94 million in 2021 to $40.69 million in 2022, and that its Net Loss increased from $237.98 million in 2021 to $445.93 million in 2022.

On or around March 17, 2023, media sources reported, that Lidwave, a semiconductor developer, had accused Luminar Technologies, Inc. of trying to pass off a Lidwave chip as its technology. This came after Luminar Technologies, Inc. displayed an image of the processor at an investor conference and on its website. As a result, Lidwave threatened Luminar with legal action, prompting the latter to remove the disputed images from its investor presentation and website.

Shares of Luminar Technologies, Inc. (NASDAQ: LAZR) declined from $10.55 per share on March 6, 2023, to as low as $5.45 per share on April 10, 2023.

Those who purchased shares of Luminar Technologies, Inc. (NASDAQ: LAZR) 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 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.