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SHAREHOLDER ALERT: SRAC QFIN LOTZ: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

Wednesday, 25 August 2021 07:10 PM

The Law Offices of Vincent Wong

Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / August 25, 2021 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Stable Road Acquisition Corp. (NASDAQ:SRAC)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/stable-road-acquisition-corp-loss-submission-form?prid=18961&wire=1
Lead Plaintiff Deadline: September 13, 2021
Class Period: October 7, 2020 - July 13, 2021

Allegations against SRAC include that: (a) Stable Road's acquistion target, Momentus's 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus's own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (b) the U.S. government had conveyed that it considered Momentus's Chief Executive Officer a national security threat, jeopardizing his continued leadership of Momentus and Momentus's launch schedule and business prospects; (c) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (d) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.

360 DigiTech, Inc. (NASDAQ:QFIN)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/360-digitech-inc-loss-submission-form?prid=18961&wire=1
Lead Plaintiff Deadline: September 13, 2021
Class Period: April 29, 2021 - July 7, 2021

Allegations against QFIN include that: (i) the Company had been collecting personal information in violation of relevant People's Republic of China laws and regulations; (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

CarLotz, Inc. (NASDAQ:LOTZ)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/carlotz-inc-loss-submission-form?prid=18961&wire=1
Lead Plaintiff Deadline: September 7, 2021
Class Period: December 30, 2020 - May 25, 2021

Allegations against LOTZ include that: (1) due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a "logjam" resulting in slower processing and higher days to sell; (2) as a result, the Company's gross profit per unit would be negatively impacted; (3) to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz's inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz's gross profit per unit forecast was likely inflated; (5) this Company's corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The Law Offices of Vincent Wong, Wednesday, August 25, 2021, Press release picture

To learn more contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]

SOURCE: The Law Offices of Vincent Wong

Topic:
Lawsuits
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