Investors in Polestar Automotive Holding UK PLC (NASDAQ: PSNY) are being urged to take action as a class action lawsuit has been filed against the company. The case alleges securities fraud and other potential misconduct by Polestar’s executives.
What Is the Lawsuit About?
The lawsuit concerns whether Polestar and its leadership misled investors about the company’s financial health. On January 16, 2025, Polestar revealed that its previously audited financial statements for 2022 and 2023 contained errors requiring restatement regarding investments.
The company admitted to balance sheet inaccuracies related to tooling assets and liabilities, which meant it underreported its assets and liabilities for multiple reporting periods.
Following this disclosure, Polestar’s stock price dropped by 11.07%, closing at $1.085 per share on the same day.
Who Can Join the Polestar Class Action Lawsuit?
If you purchased Polestar securities between September 30, 2022, and June 30, 2024, you may be eligible to join the lawsuit. Investors have until March 31, 2025, to file a request with the court to be appointed as Lead Plaintiff.
To inquire about your eligibility, you can contact Pomerantz LLP via:
Email: newaction@pomlaw.com
Phone: 646-581-9980 or toll-free at 888-4-POMLAW (Ext. 7980)
Why This Matters for Investors
Financial restatements often erode investor confidence, leading to stock price volatility and potential financial losses. If the allegations of misrepresentation or fraud are proven, affected investors may have the right to seek compensation for their losses.
Pomerantz LLP, a well-established securities litigation firm, is leading the case. The firm has successfully secured multimillion-dollar settlements in past class action lawsuits.
Next Steps for Investors
- Review your Polestar investment history to check if you are eligible.
- Contact Pomerantz LLP for more details on how to participate.
- Act before the March 31 deadline to ensure your rights are protected.
If you believe you have been impacted by Polestar’s financial misstatements, now is the time to take action.
