NEW YORK, May 12, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Arcimoto Inc. (“Arcimoto” or the “Company”) (NASDAQ: FUV). If you are a shareholder of Arcimoto with more than $200,000 in losses, you should contact the Firm.
On March 23, 2021, Bonitas Research published a short-seller report on Arcimoto. In the report, Bonitas alleges that Arcimoto fabricated pre-orders to generate fake demand, only delivered on 19 of the 422 alleged pre-orders since 2018, sold 13 of the 19 pre-orders to an undisclosed related party, and failed to notify customers that Arcimoto filed a total production recall notice with the United States Government’s federal agency, the National Highway Traffic Safety Administration.
Arcimoto’s shares dropped by $1.10, or approximately 6.56%, from closing at $16.77 on March 22, 2021 to close at $15.67 on March 23, 2021.
If you are a shareholder of Arcimoto, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at firstname.lastname@example.org.
Whistleblowers: Persons with non-public information regarding Arcimoto should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7256