A securities class action has been filed in the USDC – E.D.N.Y. against Hesai Group (HSAI) lawsuit on behalf of purchasers of the securities of Hesai pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2023 initial public offering.
According to the lawsuit, the IPO Registration Statement contained false and/or misleading statements and/or failed to disclose that:
- Hesai Group’s gross margin decrease was caused by a lower in-house utilization rate;
- Hesai Group’s gross margin was 30% for the fourth quarter-which was completed over a month before the date of the amended registration statement; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased Hesai securities during the Class Period and would like to receive more information or join the action, please enter your contact information below and click “Submit Your Information”.
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Lowey Dannenberg is a national firm representing consumers in Securities actions. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
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