The Rosen Law Firm, a global investor rights law firm, filed a class suit on behalf of LI AUTO-W (02015.HK) +4.000 (+4.171%) Short selling $78.96M; Ratio 6.465% 's investors, with action period between 26 February to 20 March 2024. The Rosen Law Firm publicly solicited investors who purchased LI AUTO-W's shares or options during this period and suffered larger investment losses to join the free class suit.
The case alleges that LI AUTO-W's public statements were materially false and misleading at all relevant time, and that the company and some of its senior executives made false statements during the action period, violating securities laws and injuring investors, including that LI AUTO-W exaggerated the market demand for autos and the effectiveness of its operating strategy in launching its first EV model, MEGA, and that LI AUTO-W is unlikely to meet its auto delivery forecast for 1Q24, etc..
Therefore, investors asked the court to order LI AUTO-W to compensate them for the losses they suffered as a result of the drop in share price caused by its illegal behavior. Li Auto Inc. (LI.US) 's share price tumbled over 20% between 26 February and 20 March.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-20 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
