[ad_1]
NEW ORLEANS, March 4, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 4, 2022 to file lead plaintiff applications in a securities class action lawsuit against Electric Last Mile Solutions, Inc. (“ELMS” or the “Company”) f/k/a Forum Merger III Corp. (NASDAQ:ELMS, ELMSW, FIII, FIIIU, FIIIW)), if they purchased the Company’s securities between March 31, 2021 and February 1, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased securities of ELMS as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-elms/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 4, 2022.
About the Lawsuit
ELMS and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 2, 2022, post-market, the Company disclosed that C.E.O. James Taylor and Executive Chairman Jason Luo had resigned following a Special Committee investigation from which the Company had concluded that “in November and December 2020…certain Electric Last Mile Inc. executives purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation,” and named Taylor and Luo as participants in the transactions. Further, the Company disclosed that its previously issued consolidated financial statements covering “the period as of December 31,…
[ad_2]
