Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 12, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises NIO Inc. (“NIO” or “the Company”) NIO investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. NIO investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. NIO is the subject of a report published by Grizzly Research on June 28, 2022, alleging that the Company was inflating its revenue and profits by using an unconsolidated related party, Wuhan Weineng Battery Asset Co. The Company announced on July 11, 2022, that it was forming a committee of independent advisors to assist an internal investigation into the allegations, including representatives of a law firm and forensic accounting firm. Based on this news, shares of NIO fell by 9% in intraday trading.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar