A securities class action has been filed in the USDC — S.D.N.Y. against Innoviz Technologies Ltd. (INVZ) (“Innoviz” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Innoviz securities between April 21, 2021 through February 28, 2023, both dates inclusive (the “Class Period”).

Innoviz designs and manufactures solid-state light detection and ranging, or “LiDAR”, sensors and develops perception software that purportedly enables the mass production of autonomous vehicles. The Company operates in Europe, Asia Pacific, the Middle East, Africa, and North America.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) Innoviz had overstated the benefits that the Company was likely to derive from its purported contracts, partnerships, and/or collaborations with automotive companies;

(2) as a result, the Company was unlikely to achieve the level of profitability that Defendants had represented to investors;

(3) accordingly, Innoviz had overstated its business and/or financial prospects; and

(4) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

If you purchased Innoviz securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.