Nio Inc. (NIO)
Class Action & Lead Plaintiff Deadline: October 24, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against NIO Inc. (“NIO” or “the Company”) (NYSE: NIO) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired NIO securities between March 1, 2021 and July 11, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business operations and prospects. Specifically, Defendants failed to disclose to investors 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.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form, or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in NIO 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.