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LI.US
id: 1218

Li Auto (LI) Overstated Sales Estimate Case

E.D. New York
Court
1:24-cv-03470
Case number
26 Jan 2024
Class period Start
20 Mar 2024
Class period End
09 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
Collecting participants…

Li Auto Inc

Li Auto Inc. operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line compr...

    Ticker
    LI.US
    ISIN
    US50202M1027
    CIK
    1791706
    Sector
    Consumer Cyclical
    Industry
    Auto Manufacturers
    Country
    USA
    Address
    11 Wenliang Street, Beijing, China, 101399