NEW YORK - February 3, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Polestar Automotive Holding UK PLC (“Polestar” or the “Company”) (NASDAQ: PSNY) on behalf of investors who purchased or otherwise acquired publicly traded Polestar securities between November 14, 2022 and January 16, 2025 (the “Class Period”).
If you are an investor in Polestar and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than March 31, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
According to the complaint, on January 16, 2025, before the market opened, Polestar filed a current report on Form 6-K with the U.S. Securities and Exchange Commission that stated that “the Company’s previously issued audited financial statements included within Annual Reports on Form 20-F for the years ended December 31, 2022 and December 31, 2023 (the ‘Audited Affected Financials’) and the unaudited interim financial information included within Current Reports on Form 6-K for the quarterly periods ending on and falling between September 30, 2022 and June 30, 2024 (the ‘Unaudited Affected Financials’ and together with the Audited Affected Financials, the ‘Affected Financials’) contain errors that warrant restatement of the Audited Affected Financials and the interim financial information for the six-month periods ended June 30, 2023, and June 30, 2024 . . . As a result of the above noted accounting errors, the Audit Committee, based on the recommendation of, and after consultation with, the Company’s management, have further concluded that the Affected Financials should no longer be relied upon . . .”.
Following this news, the price of Class A Polestar ADSs declined by $0.135 per ADS, over 11%, to close at $1.085 per ADS.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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