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SAN DIEGO, December 06, 2021--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces it is investigating Lucid Group Inc. (NASDAQ: LCID) to determine whether certain Lucid officers and directors violated securities laws or breached their fiduciary duties to the Company and its shareholders. Lucid develops electric vehicle technologies.
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Lucid Group Inc. (LCID) is the Subject of an SEC Investigation
Today, Lucid, formerly known as Atieva, Inc., announced that the Securities and Exchange Commission is investigating the Company's $11.75 billion SPAC merger and has issued a subpoena for documents. Lucid noted in a Form 8-K filed with the SEC that it received a subpoena on December 3, 2021, requesting "the production of certain documents related to an investigation by the SEC" that "appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements."
Lucid Group, Inc. (LCID) shareholders have legal options. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Lucid Group, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
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