Overview

• Microvast Holdings, Inc. is facing a securities class action lawsuit alleging the company made false and/or misleading statements and failed to disclose important negative information about its business, operations, and prospects.
• The lawsuit alleges that Microvast misrepresented the likelihood of receiving a $200 million grant from the U.S. Department of Energy (DOE), which was eventually rescinded.
• Microvast is also accused of misrepresenting the nature and profitability of its businesses and partnerships.
• Several law firms are encouraging Microvast investors who incurred losses during the class period, from October 19, 2022 to November 20, 2023, to seek counsel and potentially join the class action lawsuit.
• Investors have until February 5, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.