Deadlines Approaching for Investors: Informing Investors of Deadlines for Securities Fraud Class Actions Filed Against Kessler Topaz Meltzer & Check, LLP, Romeo Power, Inc. (RMO) | Around the Web -Pennsylvania
Radnor, Pennsylvania, June 2, 2021 / PRNewswire / –Kessler Topaz Meltzer & Check, the law firm of LLP is Romeo Power, Inc. (“Romeo”) (NYSE: RMO) (NYSE: RMO.WT) f / k / a RMG Acquisition Corp. (“Romeo”) (NYSE: RMO) (NYSE: RMO.WT) “RMG”) (NYSE: RMG) (NYSE: RMG.U) (NYSE: RMG.WS) Investors have filed a fraud class action lawsuit in securities in the name of any person who bought or acquired Roméo Titles Between October 5, 2020 And March 30, 2021, Full (“class period”).
Investor maturity notice: investors who bought or acquired Romeo Securities During the class Later June 15, 2021Requires that he be designated as the representative of the class claimants. Please contact Kessler Topaz Meltzer & Check, LLP for more information or to find out how to participate in this process. James Malo, Esq. (484) 270-1453 or Adrian Bell, Esq. (484) 270-1435; Toll free number (844) 887-9500 By email [email protected]; Or Click on https://www.ktmc.com/romeo-powerclass-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=romeo
Romeo is an energy technology company specializing in the design and manufacture of lithium-ion battery packs and modules for electric utility vehicles. An ad hoc acquisition company (SPAC) created with a view to a merger, a capital stock exchange, an acquisition of assets, a share buyback, restructuring or similar business combination with a or several companies in the diversified resources and industrial materials sector. RMG. At October 5, 2020, RMG announced a definitive agreement on a business combination with Romeo.on December 29, 2020, Romeo announced the completion of the commercial merger with RMG. The business combination was approved by RMG shareholders at a special meeting held on November 11, 2018. December 28, 2020 Complete with December 29, 2020..
In class action, defendant is estimated to win 2020 Romeo $ 11 million, And Romeo’s estimated turnover for 2021 $ 140 millionThe Respondent further stated that Romeo has the capacity and supply to meet end-user demand for Romeo’s products, Romeo is not tied “at any level of the value chain” and its supply is covered. He said he had not seen any documents. Challenges that hamper growth.
The truth has been revealed March 30, 2021 When Romeo issues a press release, submits a report to the United States Securities and Exchange Commission on Form 8-K and discloses quarterly and year-end financial results after market close. December 31, 2020, Holding of a conference call between investors and analysts. The defendants shocked investors by revealing that Romeo’s production was hampered by a shortage of battery cells, reducing estimated revenues in 2021 by around 71 to 87 percent. March 31, 2021, Morgan Stanley sets target price per share for Romeo $ 12 AT $ 7Following this news, the Romeo share price fell from its closing price. March 30, 2021 of $ 10.37 Closing price per share $ 8.33 Per share $ 2.04 Per share, or nearly 20%.
The complaint alleges that during the class action, the defendant concealed: (2) The potential future risks that the defendant warned of supply interruptions or shortages had already occurred, adversely affecting the business, Romeo’s operations and outlook. (3) Romeo did not have battery cells in stock to increase production in 2021 to meet end-user demand. (4) Romeo’s supply constraints have been a major obstacle to Romeo’s profit growth. (5) Romeo’s battery cell supply chain was not covered, but in reality it was completely under threat and its 2021 inventory was tied to two battery cell suppliers and the cash market. It was.
Romeo Investors Later June 15, 2021Through Kessler Topaz Meltzer & Check, LLP or other attorneys, you can apply to be appointed as the lead representative of the Class Complainants, or you may choose to do nothing and stay away from the Class. The lead applicant is the representative who acts on behalf of all class members in the conduct of proceedings. To be appointed principal plaintiff, the court must determine that the claims of the class members are typical of the claims of other groups and that the class members adequately represent the class. Your ability to share the recovery is not affected by the decision to become the principal applicant.
Kessler Topaz Meltzer & Check, LLP has filed class actions in state and federal courts nationwide, including securities fraud, breach of fiduciary duty, and other violations of federal and state laws . Kessler Topaz Meltzer & Check, LLP is the driving force behind corporate governance reform, raising billions of dollars on behalf of institutional and individual investors. United States And all over the world. The company represents investors, consumers and whistleblowers (private citizens who report fraud against the government and share in the clawback of the government dollar). The proceedings in this proceeding were not filed by Kessler Topaz Meltzer & Check, LLP. Learn more about Kessler Topaz Meltzer & Check, LLP. www.ktmc.com ..
Kessler Topaz Melzer & Check, LLP
James Maro Jr., Esq.
Adrian Bell, Esq.
280 route du Roi de Prussia
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
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Source: Kessler Topaz Meltzer & Check, LLP
Deadlines Approaching for Investors: Informing Investors of Deadlines for Securities Fraud Class Actions Filed Against Kessler Topaz Meltzer & Check, LLP, Romeo Power, Inc. (RMO) | Around the Web – Pennsylvania
Source Link Investors Approaching Deadlines: Informing Investors of Deadlines for Securities Fraud Class Actions Filed Against Kessler Topaz Meltzer & Check, LLP, Romeo Power, Inc. (RMO) | Around the Web – Pennsylvania