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Romeo Power (RMO) agreed to settle $14.9M with shareholders and $RMO warrant holders to end claims over hiding cell battery supply sufficiency.

Romeo Power Inc

All persons who purchased or otherwise acquired publicly traded: (i) RMG Acquisition Corp. Class A common stock or Romeo Power, Inc. common stock; (ii) RMG warrants or Romeo warrants; and/or (iii) RMG units, between October 5, 2020 and August 16, 2021, inclusive, and were injured thereby.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.17 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.68 per share.

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

Audit the claim and make sure you get the maximum possible payout

File a claim with the settlement administration

Correspond with the settlement administration to resolve emerging issues

Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.

Disbursement

Misleading Statements

Financial Misrepresentation

Failure to Disclose

Omissions

Directors

Management

Romeo Power (RMO) $14.9M Shareholder Settlement

romeo-power-shareholder-settlement

Stocks

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Romeo Power, Inc., an energy storage technology company, designs and manufactures lithium-ion battery modules and packs for vehicle electrification in North America. The company designs and manufactures battery modules, battery packs, and battery management system technologies; and provides non-recurring engineering services, such as design, prototype, and testing services. It serves commercial electric vehicle manufacturers, electric powertrain converters, electric watercraft manufacturers, fleet operators, and automobile, and recreational vehicle manufacturers. The company was founded in 2014 and is headquartered in Vernon, California. As of October 13, 2022, Romeo Power, Inc. operates as a subsidiary of Nikola Corporation.

Romeo Power (RMO) $14.9M Shareholder Settlement

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