Governance & Derivative

Lightning eMotors, Inc. (NYSE: ZEV)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Lightning eMotors, Inc. (NYSE: ZEV).

On August 16, 2021, the Company announced its financial results for 2Q2021, including a $46.1 million net loss, or 79 cents per share, for the quarter, up more than 1,500% from the $2.8 million loss, or 10 cents per share, that it reported in the second quarter of 2020. The Company also pulled its full year financial guidance for the remainder of 2021, citing an expectation of revenues of just $4 million to $6 million in the next quarter.

The Company was subsequently sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Lightning eMotors’ officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Lightning eMotors shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.