PHILADELPHIA, PA / ACCESSWIRE / January 6, 2022 / Kehoe Law Firm, P.C. is investigating whether Embark Technology, Inc. ("Embark Technology" or the "Company") (NASDAQ:EMBK) violated federal securities laws.
Embark Technology investors should be aware that according to a report by The Bear Cave, "Embark's current valuation appears to be based on puffery rather than actual substance. The company holds no patents, has only a dozen or so test trucks, and may be more bark than bite." Further, The Bear Cave reported that "[m]ore troubling is that Embark appears to lack true economic substance."
On this news, Embark Technology's stock price dropped significantly and was down more than 17% during intraday trading on January 6, 2022.
EMBK INVESTORS WITH FINANCIAL LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM'S "SECURITIES CLASS ACTION QUESTIONNAIRE."
EMBARK TECHNOLOGY INVESTORS WITH FINANCIAL LOSSES ARE ALSO ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO DISCUSS THE EMBARK TECHNOLOGY CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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SOURCE: Kehoe Law Firm, P.C.