Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Arcimoto, Inc. (NASDAQ: FUV) on behalf of Arcimoto stockholders. Our investigation concerns whether Arcimoto has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 23, 2021, Bonitas Research published a report alleging that Arcimoto had delivered “less than 5%” of the pre-orders it had touted since 2018 and that the Company’s largest customer is secretly owned and operated by an undisclosed related party, FOD Capital, LLC. Moreover, the report alleged that one day before Arcimoto touted a 90-day trial for first responder units in Orlando, the Company had filed a total production recall notice “due to safety issues with the electronic drivers in the vehicles which can ‘lead to unexpected battery shutdown and immediate loss of traction-power.’”
On this news, the Company’s stock price fell sharply on March 23, 2021, to close at $15.67 per share.
If you purchased or otherwise acquired Arcimoto shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.