NEW YORK, July 16, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of LMP Automotive Holdings, Inc. (NASDAQ: LMPX) securities between June 29, 2021 and May 19, 2022, both dates inclusive ( the “Class Period”) of the substantial Deadline of July 26, 2022 for the main applicant.
SO WHAT: If you purchased LMP Securities during the Class Period, you may be entitled to compensation without payment of fees or out-of-pocket costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than July 26, 2022. A lead plaintiff is a representative party acting on behalf of the other class members to direct the litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LMP engaged in the improper identification and disposal of business-to-business transactions; (2) LMP used incorrect estimates for chargeback reserves for financial and insurance products; (3) LMP had misclassified certain items in its financial statements, which had an impact on the wordings of the financial statements of the balance sheet and the income statement; (4) there were material weaknesses in LMP’s internal control over financial reporting; (5) as a result of the foregoing, LMP overestimated its revenues; (6) as a result of the foregoing, LMP would restate certain of its previously published financial statements and results; and (7) as a result of the foregoing, defendants’ positive statements regarding LMP’s business, operations and prospects were materially misleading and/or lacked reasonable basis. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827