The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the preorders of Arcimoto’s Fun Utility Vehicles (“FUVs”) were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422; (2) Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall; (3) Arcimoto’s largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; (4) Arcimoto’s partnership with HULA was an undisclosed related party transaction; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Arcimoto Inc. Securities Litigation
Apr 22, 2021 | Arcimoto Inc. Common Stock NASDAQ: FUV | Case Status: Filed
Filing Deadline: June 18, 2021
If you purchased a significant amount of shares of Arcimoto Inc. Common Stock (NASDAQ: FUV), you have certain options. Investors should contact us before June 18, 2021.
Sign up for free to create a personalized portfolio with tracking and e-mail alerts for Arcimoto Inc. Common Stock
First Identified Complaint
David Barnette, et al. v. Arcimoto Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Class Action Complaint for Violation of the Federal Securities Laws||April 19th, 2021|
|2||U.S. District Court Civil Docket||April 20th, 2021|