A securities class action has been filed in the USDC – N.J. against Polestar Automotive Holding UK PLC (PSNY) (“Polestar” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Polestar securities between November 14, 2022, and January 16, 2025, both dates inclusive (the “Class Period”).
Polestar purports to be “the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future.”
The Complaint alleges that the defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose that:
(1) Polestar’s financial statements during the Class Period were materially misstated;
(2) Polestar understated its internal control weaknesses; and
(3) as a result, defendants’ statements about Polestar’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times, thereby harming investors.
As a result, the price of Class A Polestar ADSs declined by $0.135 per ADS, or 11%, on higher-than-average volume, to close at $1.0850 on January 16, 2025.
If you purchased Polestar 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”.
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