NIO Class Action Lawsuit (NIO Lawsuit)
Levi & Korsinsky, LLP announces that a NIO class action lawsuit (NIO Class Action Lawsuit) has been filed on behalf of investors who purchased NIO Inc. (NIO) securities between August 20, 2020 and July 11, 2022. For more on the NIO Lawsuit please contact us today.
According to the NIO Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) NIO pulled forward revenue by selling batteries to a related party, which owned the batteries and managed users’ subscriptions; (2) through the related party, NIO also recognized enormous depreciation savings; (3) as a result of the foregoing, the Company’s revenue and net loss were overstated; and (4) 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.
If you suffered a loss in NIO Inc. you have until October 24, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.