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LI.US
id: 1218
Li Auto (LI) Overstated Sales Estimate Case
E.D. New York
Court1:24-cv-03470
Case number26 Jan 2024
Class period Start20 Mar 2024
Class period End09 Jul 2024
Lead Plaintiff motion deadline$LI ADS investor filed a claim vs. Li Auto for overstating demand for its vehicles.
On March 21, 2024, on announcement of downward revision of sales projections, Li Auto’s American Depositary Share ( ADS) price fell 7.48%, losing $2,5B+ of shareholder value.
Li Autol investors can join this case to be notified about potential recovery.
On March 21, 2024, Li Auto issued a press release, revising its vehicle deliveries estimates for Q1'24 down to 76,000 - 78,000 vehicles from the previous outlook of 100,000 - 103,000 vehicles.
In addition, the Company stated that its operating strategy for the newLi MEGA vehicle was mis-paced, skipping important phases of market development.
Considering all the representations, investors have reasons to suspect that Li Auto overstated its sales estimates.
One of the investors has already filed a class action against Li Auto in E.D. of New York court for failing to timely revise overstated sales projections.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
21 March 2024
Filing date
10 May 2024
Lead Plaintiff Deadline
09 July 2024