lucid group inc lcid shareholder class action alert bernstein liebhard llp reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit against lucid group inc lcid did you lose money on investments in lucid group if so please visitlucid group inc shareholder class action lawsuit or contact peter allocco at 212 9512030 or palloccobernliebcom to discuss your rights new york ny  accesswire  april 19 2022  bernstein liebhard llp a nationally acclaimed investor rights law firm reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the common stock of lucid group inc lucid or the company lcid between november 15 2021 and february 28 2022 inclusive the class period the lawsuit was filed in the united states district court for the northern district of california and alleges violations of the securities exchange act of 1934 lucid designs engineers builds and sells luxury electric vehicles evs lucid currently sells an electric sedan the lucid air and plans to launch an electric suv the lucid gravity on february 22 2021 prior to the commercial launch of the lucid air lucid announced its plans to merge with churchill capital corp iv churchill a special purpose acquisition company in a transaction that would allow lucid securities to be publicly traded and provide lucid with 44 billion in capital the merger as lucid transitioned into a publicly traded company defendants assured investors that lucid would produce 577 evs in 2021 20000 evs in 2022 and 49000 evs in 2023 including 12000 of the project gravity suv which would launch that year defendants also repeatedly assured investors that lucids production capacity was rapidly increasing and that lucid would reach its production targets the complaint alleges that throughout the class period defendants made materially false andor misleading statements as well as failed to disclose material adverse facts about the companys business and operations specifically defendants overstated lucids production capabilities while concealing that extraordinary supply chain and logistics challenges were hampering the companys operations from the start of the class period on february 28 2022 the company admitted that it 1 had only delivered approximately 125 evs in 2021 and still had only produced approximately 400 evs by february 28 2022 2 would only produce between 12000 and 14000 evs in 2022 and 3 would delay the launch of the lucid gravity until 2024 individual defendant peter rawlinson lucids chief executive officer and chief technology officer attributed the slashed production outlook to the extraordinary supply chain and logistics challenges lucid encountered on this news the price of lucid common stock fell more than 13 closing at 2499 per share on march 1 2022 if you wish to serve as lead plaintiff you must move the court no later than  a lead plaintiff is a representative party acting on behalf of other class members in directing the litigation your ability to share in any recovery doesnt require that you serve as lead plaintiff if you choose to take no action you may remain an absent class member if you purchased lcid common stock andor would like to discuss your legal rights and options please visit lucid group inc shareholder class action lawsuit or contact peter allocco at 212 9512030 or palloccobernliebcom since 1993 bernstein liebhard llp has recovered over 35 billion for its clients in addition to representing individual investors the firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf as a result of its success litigating hundreds of lawsuits and class actions the firm has been named to the national law journals plaintiffs hot list thirteen times and listed in the legal 500 for ten consecutive years attorney advertising © 2022 bernstein liebhard llp the law firm responsible for this advertisement is bernstein liebhard llp 10 east 40th street new york new york 10016 212 7791414 prior results do not guarantee or predict a similar outcome with respect to any future matter