Overview

• Microvast Holdings, Inc. is facing a class action lawsuit alleging the company made false or misleading statements and omitted material adverse information regarding its business, operations, and prospects.
• The lawsuit alleges that Microvast misrepresented the likelihood of being awarded a Department of Energy Grant, and failed to disclose that negotiations had ceased and the grant had been rescinded.
• Investors who bought Microvast shares between October 19, 2022 and November 20, 2023, and suffered a significant loss are encouraged to discuss their legal rights.
• A report by J Capital Research alleged that the majority of Microvast's sales may be fake, and that the company's Chinese factory shows almost no activity.
• Investors have until February 5, 2024 to apply to the court to be appointed as lead plaintiff in the lawsuit.