SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lightning eMotors Inc. - ZEV

NEW YORK, Aug. 24, 2021

The investigation concerns whether Lightning eMotors and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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Lightning eMotors' stock began trading on the New York Stock Exchange on May 7, 2021 following a de-SPAC transaction with GigCapital3. Then, on August 16, 2021, Lightning eMotors announced the Company's financial results for the second quarter of 2021, including a net loss per share of $0.79 compared to a loss of $0.10 in the second quarter of 2020. The Company also pulled its full year financial guidance for the remainder of 2021, just days after announcing a multi-year agreement with Forest River, a Berkshire Hathaway company. 

On this news, Lightning eMotors' stock price fell $1.63 per share, or 16.93%, to close at $8.00 per share on August 17, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.