An investigation on behalf of current long term investors in NIO Inc. (NYSE: NIO) shares over possible breaches of fiduciary duty by certain directors was announced.
San Diego, CA -- (SBWIRE) -- 06/19/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of NIO Inc..
Investors who are current long term investors in NIO Inc. (NYSE: NIO) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: NIO stocks follows a lawsuit filed against NIO Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: NIO stocks, concerns whether certain NIO directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 12, 2018 and March 5, 2019, the defendants made false and/or misleading statements and/or failed to disclose that NIO would not be building its own manufacturing plant and would instead continue to rely on a little-known Chinese state-owned auto manufacturer, JAC Auto, to manufacture its electric vehicles, that reductions in government subsidies for electric cars would materially impact NIO's sales, and that as a result, defendants' statements about NIO's business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of NIO Inc. (NYSE: NIO) have certain options and should contact the Shareholders Foundation.
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