BOSTON, MA / ACCESSWIRE / February 22, 2021 / Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it is investigating Velodyne Lidar, Inc. (NASDAQ:VLDR) for potential violations of the federal securities laws.
On February 22, 2021, Velodyne Lidar announced that it was immediately replacing David Hall, the Company's founder and former Chairman of the Board of Directors, and Marta Thoma Hall, the Company's former Chief Marketing Officer. In this announcement, Velodyne Lidar wrote that these moves followed an investigation led by the Company's Audit Committee and aided by Keker, Van Nest & Peters LLP that begin in December 2020. Velodyne Lidar's announcement continued that "[t]he investigation concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors." In addition, Velodyne Lidar's Board of Directors formally censured Mr. Hall and Ms. Hall. The market was stunned by this news, with shares plunging approximately 15% in one day.
Block & Leviton LLP (www.blockleviton.com) is investigating whether Velodyne Lidar and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of Velodyne Lidar and have questions about your legal rights or possess information relevant to this investigation, please contact Block & Leviton attorneys at (617) 398-5600, via email at [email protected], or visit our website for information on the case.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP