Lead Plaintiff Deadline July 28, 2026
NEW YORK, June 5, 2026 /PRNewswire/ — Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities fraud class action has been filed on behalf of investors who purchased or acquired shares of Lucid Group, Inc. (NASDAQ: LCID or the “Company”) between February 25, 2026 and April 13, 2026.
Investors seeking to serve as lead plaintiff must file a motion by July 28, 2026.
PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION
Allegations
The lawsuit centers on disclosures concerning production, deliveries, financial performance, and operational issues:
- Production and delivery problems
- On April 3, 2026, Lucid reported producing 5,500 vehicles but delivering only 3,093 vehicles.
- The company stated that deliveries of the Lucid Gravity were disrupted for 29 days because of a supplier-quality issue involving second-row seats, which affected its ability to meet customer demand.
- Stock-price decline after delivery disclosures
- Following reports about the delivery shortfall and related supplier issues, Lucid’s stock fell approximately 11.35% over two trading days, closing at $8.83 on April 7, 2026.
- Weak preliminary financial results
- On April 14, 2026, Lucid disclosed preliminary first-quarter revenue of $280–$284 million, well below analyst expectations of $433.8 million, along with operating losses approaching $1 billion.
- The company also announced plans to raise approximately $1.05 billion in capital, including a public stock offering. The stock declined another 4.76% on the news.
- Final first-quarter results
- On May 5, 2026, Lucid reported a GAAP loss of $3.46 per share, a net loss exceeding $1 billion, and revenue of $282.47 million, all below expectations.
- Management acknowledged that the supplier issue negatively affected results and that inventory levels were elevated.
- The stock fell another 7.47% over two trading days, closing at $6.19 on May 6, 2026.
Investor Takeaway
The lawsuit alleges that investors were harmed when the market learned the extent of Lucid’s production disruptions, delivery shortfalls, financial underperformance, and need for additional capital, leading to significant stock-price declines.
Investors who purchased Lucid shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for July 28, 2026.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
There is no cost or obligation to speak with an attorney.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
